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What is Peyton income distribution deduction

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Reference no: EM132651034

Problem - Peyton Trust, which is a simple trust, distributed $45,000 to its sole beneficiary, Brooke, in the current year. Further, it had the following items of income and expense for the current year.

Interest income from municipal bonds $10,000

Gross income from rental properties 30,000

Operating expenses for the rental properties 5,000

Trust fees allocable to the rental properties 2,000

Required - What is Peyton's income distribution deduction for the current year?

a. $23,000

b. $33,000

c. $40,000

d. $45,000

Reference no: EM132651034

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