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The trustee of the Miguel Trust can distribute any amount of accounting income and corpus to the trusts income beneficiaries, Paula and George. This year,
The trustee of the Miguel Trust can distribute any amount of accounting income and corpus to the trusts income beneficiaries, Paula and George. This year, the trust incurred the following. Taxable interest income $40,000 Tax-exempt interest income 20,000 Long-term capital gainsallocable to corpus 10,000 Fiduciarys feesallocable to corpus 6,000 The trustee distributed $40,000 to Paula and $40,000 to George. 1.What is Miguels trust acctg income? 2.What is Miguel's DNI? 3.What is Miguel's taxable income? 4.How much gross income is recognized by each beneficiary
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