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Question 21 what are the characteristics of a complex trust? A. the…

January 26, 2024

Question 21

what are the characteristics of a complex trust?

A. the trustee receives income tax credits for administering the trust

B. the trust or the trust beneficiary is responsible for the payment of the income tax

C. the trustee is required to distribute principal

D. the trustee may not accumulate income

Question 22

An estate with one beneficiary generates income of $10,000 in one year. That same year it distributes $15,000 to the beneficiary in the closing of the estate. How much income must the beneficiary recognize?

A. $15,000

B. $0

C. $5,000

D. $10,000

characteristics, complex, Financial Accounting, question..., the.., trust

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