The Allwardt Trust is a simple trust that correctly uses the calendar year for tax purposes. Its income beneficiaries (Lucy and Ethel) are entitled to the trust's annual accounting income in shares of one-half each. For the current tax year, Allwardt reports the following. Ordinary income $570,000 Long-term capital gains, allocable to corpus 171,000 Trustee commission expense, allocable to corpus 28,500 a. Each beneficiary is entitled to receive income of $ .