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Which type of trust requires that income generated from its assets be recognized, for federal...

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Question

Accounting

Which type of trust requires that income generated from its assets be recognized, for federal income tax purposes, by the grantor during his or her lifetime, and reported in his or her individual income tax return?

Multiple Choice

a. Inter vivos trust.

b. Grantor trust.

c. Revocable living trust.

d. Family trust.

e. Irrevocable life insurance trust.

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