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Business, 27.03.2020 05:27 casie65

"The Jim Peters Trust holds a vacation home which is rented out and holds some marketable securities and cash. The trust received tax-exempt income of $1,000, taxable income of $3,000, and rental income of $12,000. The trust had expenses of $10,000 which it incurred in maintaining the rental property. The trust distributed $25,000 to Jim s son, Jimmy. What is the amount that the trust can deduct for distributions made to Jimmy? "

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