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Don and Toni have one son named Chris, and Chris has 2 children named Lela...

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Accounting

Don and Toni have one son named Chris, and Chris has 2 children named Lela and Adam. Don and Toni established an irrevocable trust with $500,000 for the benefit of Chris and his children. Chris tragically died in a car accident and his children were now the sole beneficiaries of the trust. What are the generation skipping tax issues upon the distribution of income and corpus of the trust to the grandchildren?

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