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  3. 2. the alright trust is a simple trust. the annual

2. The Alright Trust is a simple trust. The annual accounting income is to be distributed equally...

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Accounting

2. The AlrightTrust is a simple trust. The annual accounting income is to bedistributed equally to Ben and Sarah. The Trust reports thefollowing: Dividend income Long-term capital gain (allocable tocorpus) Trustee allocable to corpus $100,000 30,000 5,000 Computethe following:

a. Trustaccounting income:

b. Totaltaxable income

c.TrustDNI

d. Distributiondeduction

e. Trusttaxable income

f . Amount andcharacter of income reported by each benefiicary

Answer & Explanation Solved by verified expert
4.1 Ratings (873 Votes)
a Trust accounting income is 100000 since the Dividend income received by trust shall be included in the Statement of Profit Loss account of the trust Longterm    See Answer
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