Question
The Sal Samson Trust reports the receipts and expenditures listed below. U.S. Treasury interest $20,000 Rental income 5,500 Interest from tax-exempt bonds 4,500 Property taxes
The Sal Samson Trust reports the receipts and expenditures listed below.
| U.S. Treasury interest | $20,000 |
| Rental income | 5,500 |
| Interest from tax-exempt bonds | 4,500 |
| Property taxes on rental property | 2,700 |
| CPA's fee for tax return preparation | 700 |
| Trustee's fee | 2,400 |
What are the trust's deductible expenses?
| U.S. Treasury interest? |
|
| Rental income? |
|
| Interest from tax-exempt bonds? |
|
| Property taxes on rental property? |
|
| CPA's fee for tax return preparation? |
|
| Trustee's fee? Trust's deductible expenses (total)? |
|
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Internal Audit Of The Future The Impact Of Technology Innovation
Authors: An Anthology Compiled And Contributed To By A. Michael Smith
1st Edition
1634540638, 978-1634540636
