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The Federal income tax liability for the Valerio Trust is $_____ INFO: Operating income from a business $815,000 Dividend income, all from US Corp (20%

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The Federal income tax liability for the Valerio Trust is $_____

INFO:

Operating income from a business $815,000
Dividend income, all from US Corp (20% tax rate) $48,900
Interest income, City of San Antonio bonds $6,520,000
Trustee fees, deductible portion (24,450)
Net rental losses, passive activity (163,000)

The trustee taxable income at ordinary rates I got was: $790,450 which is correct.

The tax table:

image text in transcribed

Income Tax Rates-Estates and Trusts Tax Year 2021 Income Tax Rates-C Corporations, 2018 and after For all income levels, the tax rate is 21%

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