Q9 only

Which of the following statements is true concerning federal income tax laws and estates? The income tax on the earnings from an estate is levied either on the estate, if accumulated, or the beneficiary. The income tax on the earnings from an estate is levied only on the estate. The income tax on the earnings from an estate is levied only on the beneficiary. Estates are subject to estate taxes and, therefore, exempt from income tax. Question 10 (2 points) The party to which legal title and management responsibilities are initially given in 'a trust agreement is referred to as the beneficlary