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On January 1, 2020, Combate established a trust for the benefit of hid daughter Mina, Combate appointed Lawyer Du as the trustee. The property transferred
On January 1, 2020, Combate established a trust for the benefit of hid daughter Mina, Combate appointed Lawyer Du as the trustee. The property transferred to the trust is a piece of lot with a dormitory earnings rental income. During the year, the trust earned P10,000,000 revenues and incurred expenses of P2,000,000. Out of the trusts income, Atty Du gave Mina P1,500,000. In the same year, Mina earned compensation income of P1,850,000., net of withholding tax of P650,000. The taxable income of the trust is
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