Question
QUESTION 3 Trust B has $10,000 of net rental real estate income, a stock dividend of $5,000, and tax prep fees of $1,000. Trust B
QUESTION 3
Trust B has $10,000 of net rental real estate income, a stock dividend of $5,000, and tax prep fees of $1,000. Trust B is a simple trust. Based on this information, what is the NDI of this trust?
$10,000 | ||
$9,500 | ||
$9,000 | ||
$14,000 |
QUESTION 4
Trust B has $10,000 of net rental real estate income, a stock dividend of $5,000, and tax prep fees of $1,000. Trust B is a simple trust. Based on this information, what is the taxable income of this trust?
$9,500 | ||
$4,500 | ||
$14,000 | ||
$5,000 |
QUESTION 5
A simple trust must distribute all income during the taxable year to the income beneficiary.
True
False
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