A Trust Reports the Following Results$\begin{array}{ll}
\text { Dividend income } & \$ 20,000 \
\text { Capital gains } & 10,000 \
\text { Tax-exempt interest } & 10,000 \
\text { Trustee fees } & 3,000
\end{array}$

Question

Examlex · Accepted Answer

The Answer is ($10,000/$30,000) × $3,000 = $1,000 allocated to tax-exempt income
$3,000 - $1,000 = $2,000 deductible

A Trust Reports the Following Results All of the Items Above Are Allocated to Income

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