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
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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
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