Identify Which of the Following Statements Is False

question 82

Multiple Choice

Identify which of the following statements is false.

• A)A trust receives no standard deduction when computing taxable income.
• B)Trust tax preparation fees are miscellaneous itemized deductions and subject to the 2% nondeductible floor.
• C)There is no limit on a fiduciary's charitable contribution deduction if such a contribution is authorized in the trust instrument.
• D)All of the above are false.

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Definitions:

Household

A household typically refers to a residence or the people living together in a home, often used in contexts relating to domestic activities, utilities, and consumption.

Step-Up Transformer

A transformer that produces a higher voltage at its secondary than is applied to its primary.

Secondary Voltage

The voltage output by the secondary winding of a transformer or another type of electrical converter, which has been transformed from the primary voltage.

Primary Voltage

The voltage supplied to the primary winding of a transformer, which induces a secondary voltage in accordance with the transformer's winding ratio.