Computation of a fiduciary entity accounting income

Reference no: EM13987687

1. Create a fact pattern that illustrates each of the following tax situations. Be specific.

a. A simple trust.

b. A complex trust with a $300 personal exemption.

c. A complex trust with a $100 personal exemption.

2. As a guide, describe the computation of a fiduciary entity's accounting income, taxable income, and distributable net income.

Reference no: EM13987687

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