Determination of beneficiarys income

Reference no: EM13126766

Determination of Beneficiary's Income. A trust is authorized to make discretionary distributions of income and principal to its two beneficiaries, Roy and Sandy. Separate shares are not required. For the current year, it has DNI and net accounting income of $80,000, all from taxable sources. It distributes $60,000 to Roy and $40,000 to Sandy. How much gross income should each beneficiary report?

Reference no: EM13126766

Questions Cloud

Net accounting income and distributable net income : A trust has net accounting income and distributable net income (DNI) of $60,000, all from taxable sources. The trustee is required to distribute $40,000 of current income to Harry.

How many atoms would germanium contain : The density of germanium is 5.325 g/cm^3 . If you made a 4 nm quantum dot of germanium, how many atoms would it contain? Assume the dot is spherical.

Types of research using t statistic and z-score : Discuss how a t Test can be employed in hypothesis testing by the use of directional vs. nondirectional hypotheses. Discuss types of research where using the t statistic may be an appropriate alternative to using a z-score.

What is the percentage yield of this reaction : when 9.00 g of Al react with an excess of H3PO4, 30.0 g of AlPO4 are prodecued. What is the percentage yield of this reaction?

Determination of beneficiarys income : Determination of Beneficiary's Income. A trust is authorized to make discretionary distributions of income and principal to its two beneficiaries, Roy and Sandy.

Calculate the fraction of methyl isonitrile molecules : the activation energy for the isomerization of methyl isonitrile is 160 kJ/mol. Calculate the fraction of methyl isonitrile molecules that has an energy of 160.0 kJ or greater at 500 K.

Create he journal entry to record the purchase of treasury : Create he journal entry to record the purchase of treasury stock by the cost method. 5,000 shares of treasury stock are reissued at $33 per share. Prepare the journal entry to record the reissuance by the cost method.

Mean and standard deviation of total number of strikes : The Ntional Lightning Detection Newtowk uses automatic sensors to watch for lightning in areas of 10 square kilometers. What are the mean and standard deviation of the total number of lightning strikes observed?

General fund by a debit : Liabilities incurred, such as for accrued payroll, but still unpaid at year-end, should be recorded in the General Fund by a debit to which of the following accounts?

User Account

All Pages