Question
Steve creates a Section 2503(c) trust for his minor son, Andy. Under which circumstances would trust income be taxable to Steve? a) The trust distributes
Steve creates a Section 2503(c) trust for his minor son, Andy. Under which circumstances would trust income be taxable to Steve?
a) The trust distributes income to Andy.
b) The trust uses trust income to pay premiums on a life insurance policy on the life of Steve.
c) The trust accumulates income.
d) The trust uses trust capital to pay premiums on a life insurance policy on the life of Steve.
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Income Tax Fundamentals 2013
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
31st Edition
1111972516, 978-1285586618, 1285586611, 978-1285613109, 978-1111972516
