Jasmine Is the Beneficiary of an Inter Vivos Trust

question 3

Essay

Jasmine is the beneficiary of an inter vivos trust.During 20x4 the trust received the following income:
Capital gains: $16,000
Interest: $12,000
Non-eligible dividends: $8,000
One half of the trust's income from 20x4 was paid to Jasmine,who does not currently have any other sources of income.The remainder of the income remained in the trust.
Required:
a)Determine Jasmine's personal federal tax.
b)Calculate the federal tax for the trust.
(Round all amounts to zero decimal places,and apply tax rates and rules applicable to 2018.)

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Definitions:

Feedback

The information and reactions received about an individual's performance or about the results of a business activity, used as a basis for improvement.

Managing Cultural Differences

The practice of acknowledging and adapting to cultural variations in a global business environment.

Recognition

The acknowledgment or appreciation of someone's status, achievements, or rights.

Reconciliation

The process of ensuring that two sets of records (usually the balances of two accounts) are in agreement.