Which of the Following Applies to a Testamentary Trust That

question 5

Multiple Choice

Which of the following applies to a testamentary trust that is designated as a graduated rate estate (GRE) ?

• A)Tax installments are required.
• B)A non-calendar year may be used for tax purposes.
• C)The highest rate of tax will apply to all income.
• D)The GRE will become a normal testamentary trust after 48 months.

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