The Unextended Due Date for a Calendar Year Trust to File

question 22

True/False

The unextended due date for a calendar year trust to file its Form 1041 is March 15.

---

Definitions:

Debit

An accounting entry that results in either an increase in assets or a decrease in liabilities or equity on a company's balance sheet.

Credit

An accounting entry that increases liabilities or equity or represents a decrease in assets, also refers to the provision of resources based on trust.

Owner's Capital

The amount of equity a proprietor has in the business, representing the difference between the business's assets and liabilities.