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:

Personal

Relating to or concerning an individual person, private life, or specific individual interests.

Local

Pertaining to data or resources that are stored or processed on the user's own computer or network, as opposed to remote or cloud-based services.

Metropolitan

Relating to a large city or densely populated urban area.

Wide

Describes an expanse, distance across, or the broadness of something, often used to refer to physical dimensions or viewing angles.