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txx5774 A pro-rata portion of estate/trust deductions a.need not be allocated to tax exempt income. b.is allocated to tax exempt income to the extent any
txx5774
A pro-rata portion of estate/trust deductions
a.need not be allocated to tax exempt income.
b.is allocated to tax exempt income to the extent any amount of the deductions remains after allocation to taxable income.
c.must be allocated to tax exempt income but only to the extent the deductions consist offiduciary/attorney fees.
d.none of the above is correct.
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