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The Bildge Trust is a simple trust. Crawford is its sole beneficiary. In the current year, the trust earns $17,125 in taxable interest and
The Bildge Trust is a simple trust. Crawford is its sole beneficiary. In the current year, the trust earns $17,125 in taxable interest and $42,813 in tax-exempt interest. In addition, the trust recognizes a $3,375 long-term capital gain. The trustee charges a fee of $10,703 for the year. a. Compute trust accounting income, where the trust agreement allocates fees and capital gains to corpus. $ b. Compute trust accounting income, where the trust agreement allocates fees to income. c. Construct a Microsoft Excel formula that will generate the correct answer to both parts (a) and (b).
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