Gregory Carson is a 25% income beneficiary of the John Carson trust. This year the trust reported the following income: * $1,500 taxable interest. * $500 tax-exempt interest. * $2,000 qualified dividends. Its only expense was $1,000 in attorney fees. How much taxable interest will Gregory"s Schedule K-1 report? A. $500 B. $375 C. $281 D. $268
Gregory Carson is a 25% income beneficiary of the John Carson trust. This year the trust reported the following income: * $1,500 taxable interest. * $500 tax-exempt interest. * $2,000 qualified dividends. Its only expense was $1,000 in attorney fees. How much taxable interest will Gregory"s Schedule K-1 report? A. $500 B. $375 C. $281 D. $268
Chapter28: Income Taxation Of Trusts And Estates
Section: Chapter Questions
Problem 23P
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