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The Juicy Trust received $150,000 of interest income. The trustee took a $15,000 fee for her services. The trustee also paid $5,000 of trust income
The Juicy Trust received $150,000 of interest income. The trustee took a $15,000 fee for her services. The trustee also paid $5,000 of trust income to a life insurance company to pay the annual premiums on a life insurance policy on the life of the grantor of Juicy Trust. How much income must the grantor include on her personal income tax return with regard to the trust?
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Financial Accounting Theory
Authors: William R. Scott
7th edition
132984660, 978-0132984669
