Charitable Contributions Made by a Fiduciary

question 31

Multiple Choice

Charitable contributions made by a fiduciary

• A)are limited to 50% of fiduciary income.
• B)must be authorized in the trust instrument in order to be deductible.
• C)flows through to be deducted on the beneficiary's tax return.
• D)are subject to the 2% floor.

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Definitions:

Gambling Disorder

A behavioral addiction characterized by a persistent and recurrent problematic gambling behavior leading to clinically significant impairment or distress.

Substance Use Disorder

A condition in which the use of one or more substances leads to a clinically significant impairment or distress.

Tobacco Use

The act of consuming tobacco products, such as cigarettes, cigars, or chewing tobacco, often associated with numerous health risks, including cancer and cardiovascular diseases.

Short-term Consequences

Immediate, often temporary effects that follow an action or decision.