This year, the Nano Trust reported $50,000 of trust accounting income, $75,000 in taxable income...
70.2K
Verified Solution
Link Copied!
Question
Accounting
This year, the Nano Trust reported $50,000 of trust accounting income, $75,000 in taxable income before distribution deduction, no tax-exempt income and $60,000 in distributable net income (DNI). Also during this year, Nano actually distributed $30,000 cash to Horatio, its sole income beneficiary. Nano is a simple trust. Nanos distribution deduction is:
a. $60,000.
b. $50,000.
c. $30,000.
d. $40,000.
e. $70,000.
Answer & Explanation
Solved by verified expert
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
Unlimited Question Access with detailed Answers
Zin AI - 3 Million Words
10 Dall-E 3 Images
20 Plot Generations
Conversation with Dialogue Memory
No Ads, Ever!
Access to Our Best AI Platform: Zin AI - Your personal assistant for all your inquiries!
