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Prepare the 2017 fiduciary income tax return (Form 1041) for the Green Trust. In addition, determine the amount and character of the income and expense

Prepare the 2017 fiduciary income tax return (Form 1041) for the Green Trust. In addition, determine the amount and character of the income and expense items that each beneficiary must report for the year, and prepare a Schedule K-1 for Marcus White. Omit the Form 8960 for the entity's NIIT; the trust is not subject to the AMT. The year's activities of the trust include the following.

Dividend income, all qualified U.S. stocks$10,000

Taxable interest income50,000

Tax-exempt interest income20,000

Net long-term capital gain, incurred 11/125,000

Fiduciary's fees6,000

Under the terms of the trust instrument, cost recovery, net capital gains and losses, and fiduciary fees are allocable to corpus. The trustee is required to distribute $25,000 to Marcus every year. For the year, the trustee distributed $40,000 to Marcus and $40,000 to Marcus's sister, Ellen Hayes. No other distributions were made.

In computing DNI, the trustee properly assigned all of the deductible fiduciary's fees to the taxable interest income.

The trustee paid $4,000 in estimated taxes for the year on behalf of the trust. Any resulting refund is to be credited to the next tax year. The exempt income was not derived from private activity bonds.

The trust was created on December 14, 1953. It is not subject to any recapture taxes, nor does it have any tax credits. None of its income was derived under a personal services contract. The trust has no economic interest in any foreign trust. Its Federal identification number is 11-1111111.

The trustee, Wisconsin State National Bank, is located at 3100 East Wisconsin Avenue, Milwaukee, WI 53201. Its employer identification number is 11-1111111. Marcus lives at 9880 East North Avenue, Shorewood, WI 53211. His Social Security number is 123-45-6789. Ellen lives at 6772 East Oklahoma Avenue, Milwaukee, WI 53204. Her Social Security number is 987-65-4321.

Prepare the 2017 fiduciary income tax return (Form 1041) for the Green Trust. In addition, determine the amount and character of the income and expense items that each beneficiary must report for the year, and prepare a: Schedule K-1 for Marcus White.

I need help with the schedule G part!

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