Test Bank SWFT Comprehensive 2010 ch 28

Test Bank SWFT Comprehensive 2010 ch 28 - CHAPTER 28 INCOME...

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Unformatted text preview: CHAPTER 28 INCOME TAXATION OF TRUSTS AND ESTATES Instructor: The test items in both the print Test Bank and ExamView test-creation software are numbered by question type within each chapter. Thus, users of ExamView can more easily preview their selections using the printed Test Bank in the same numbering system. Learning Objective, Level of Difficulty, Estimated Time to Completion, and the AACSBs and AICPAs Core Competencie s for each test item are located within the item itself. Status: Q/P Question/ Present in Prior Problem Topic Edition Edition TRUE OR FALSE 1 Creation of fiduciary Unchanged 1 2 Blind trust Modified 2 3 Tax compliance and the fiduciary Unchanged 3 4 Parties to a trust arrangement Modified 4 5 Trust terminology Unchanged 5 6 Trust corpus defined Unchanged 6 7 Termination of a trust Unchanged 7 8 Termination of an estate Unchanged 8 9 Fiscal year of a fiduciary Unchanged 9 10 Tax payments by a fiduciary Unchanged 10 11 AMT and the fiduciary Unchanged 11 12 Computing fiduciary taxable income Unchanged 12 13 Entity accounting income Unchanged 13 14 Distribution of appreciated assets Unchanged 14 15 Income in respect of a decedent Unchanged 15 16 Expenses in respect of a decedent Unchanged 16 17 Fiduciary ordinary deductions New 18 Cost recovery of a fiduciary Modified 19 19 Domestic production activities deduction of a Unchanged 20 fiduciary 20 Domestic production activities deduction Unchanged 21 21 Losses of a fiduciary Unchanged 22 22 Charitable contributions of a fiduciary Unchanged 23 23 Charitable contributions of a fiduciary Modified 24 24 Charitable contributions of a fiduciary Unchanged 25 25 Distributable net income Unchanged 26 26 Distributable net income Unchanged 27 27 Distributable net income Unchanged 28 28 Distributable net income Unchanged 29 Status: Q/P Question/ Present in Prior Problem Topic Edition Edition 29 Distributable net income pass throughs Unchanged 30 30 Distributable net income Modified 31 31 Exempt income in DNI Unchanged 32 32 Exempt income in DNI Unchanged 33 33 Exempt income in DNI Unchanged 34 34 Fiduciary tax credits Unchanged 35 35 Tier distribution system Unchanged 36 36 Beneficiary flow-through of DNI Unchanged 37 37 Loss flow-through in the termination year Unchanged 38 38 Procedural requirements Modified 39 39 Fiduciary tax planning principles Unchanged 40 40 Fiduciary tax planning principles Unchanged 41 41 Fiduciary tax planning principles Unchanged 42 MULTIPLE CHOICE 1 Subchapter J rules Unchanged 1 2 Duties of the executor Unchanged 2 3 Duties of the trustee Unchanged 3 4 Duties of the trustee Unchanged 4 5 Simple trust definition Unchanged 5 6 Entity characteristics Unchanged 6 7 Entity characteristics Unchanged 7 8 Entity exemption Unchanged 8 9 Personal exemption Unchanged 9 10 Personal exemption Unchanged 10 11 Personal exemption Unchanged 11 12 Fiduciary AMT tax rates Modified 12 13 Distribution of in-kind assets Unchanged 13 14 Income in respect of a decedent Unchanged 14 15...
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Test Bank SWFT Comprehensive 2010 ch 28 - CHAPTER 28 INCOME...

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