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What is Peyton income distribution deduction

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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

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: EM132665477

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