$******$The ONLY items i need are:

Form $1041-$Lines $21,22,$& $23$

Schedule $1-$Lines $43,45,62,68$

Federal Statement $6-$Amount allocable to tax exempt income, Tax emept interest and dividends, Less allocated indirect deductions, net tax exempt interest and dividends.$******$

Note: This problem is for the $2022$ tax year.

Prepare the $2022$ fiduciary income tax return $($Form $1041)$ for the Blue Trust. Complete the computational template for applying the five$-$step procedure and Form $1041$ for the entity. In addition, determine the amount and character of the income and expense items that each beneficiary must report for the year, and prepare a Schedule K$1$ for Betty Blue. Omit all alternative minimum tax computations. The year's activities of the trust include the following.

Dividend income, all qualified U$.$S$.$ stocks $$50,000$

Taxable interest income $10,000$

Tax$-$exempt interest income $15,000$

Trustee's fees $4,000$

The trust and Betty both use the calendar tax year. Under the terms of the trust instrument, administrative fees are allocated to income. The trustee must distribute all of the entity's accounting income to Betty Blue by February $15$ of the following year. The trustee followed this charge and made no other distributions during the year. Administrative fees were assigned properly as an offset to taxable interest income.

The trust was created on July $8,2003.$ There are no tax credits for the year, and none of the entity's income was derived from a personal services contract. Blue has no economic interest in any foreign trust, and it is not subject to the AMT. Its Federal identification number is $11-1111121.$

The trustee, Hoover State Federal Bank, is located at $49599$ Cold Harbor Boulevard, Mountain Brook, AL $35223.$ Betty lives at $67671$ Crestline Road, Birmingham, AL $35212.$ Her Social Security number is $123-45-6788.$

Note:

If an amount box does not require an entry or the answer is zero, enter $"0".$

Enter all amounts as positive numbers, unless otherwise instructed.

If required, round amounts to the nearest dollar.

Make realistic assumptions about any missing data.

Statement $6($continued$)$

Form $1041,$ Other Information, Line $1$

Alloc. of Expenses to Tax$-$exempt Income

Total Gross Income

Total Indirect Deductions $-$ Allocable

Percentage Allocable to Tax$-$Exempt Income

Amount Allocable to Tax$-$Exempt Income

Tax$-$Exempt Interest and Dividends

Less: Allocated Indirect Deductions

Net Tax$-$exempt Interest and Dividends