Which of the following statements is false? 1. Tax-exempt interest distributed to a beneficiary is not taxable to the beneficiary. 2. The beneficiary of an estate or trust may be taxed on money required to be distributed whether actually distributed or not. 3. Losses of estates and trusts are generally not deductible by the beneficiaries. 4. Money distributed to a beneficiary from an estate is taxed twiceon the estate return and on the beneficiarys return.