The Griffin Trust Makes a Gift of Long-Term Capital Gain

question 113

True/False

The Griffin Trust makes a gift of long-term capital gain property to a qualifying charity. Griffin's entity-level deduction cannot exceed 30% of distributable net income.

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Definitions:

Simplify

The process of making an expression easier to understand or solve by reducing it to its most basic form.

Combine

To merge or unite two or more items or quantities to form a single entity.

Simplify

The process of altering an expression to make it easier to understand or solve by combining like terms or using properties of operations.

Complex Fraction

A fraction where the numerator, the denominator, or both contain a fraction.