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Lo.1, 2, 3 Complete the following chart, indicating the comparative attributes of the typical trust and estate by answering yeso or explaining the differ- ences

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Lo.1, 2, 3 Complete the following chart, indicating the comparative attributes of the typical trust and estate by answering yeso or explaining the differ- ences between the entities where appropriate. Attribute Estate Trust Separate income tax entity Controlling document Can have both income and remainder Computes entity accounting income before Termination date is determinable from controlling Document identifies both income and remainder Generally must use calendar tax year beneficiaries determining entity taxable income document beneficiaries

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