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Simple vs Complex Trusts Quiz

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1. Which criterion must a trust meet to be classified as a simple trust?

2. What is a key feature of a complex trust?

3. How are simple trusts taxed on the income they distribute?

4. Which one of the following statements is true regarding the deductibility of charitable contributions made by trusts?

5. What distinguishes a complex trust from a simple trust in terms of corpus distribution?

6. Under what condition can a trust be considered as having the ability to accumulate income?

7. What tax form is typically filed by a simple trust?

8. What differentiates a simple trust's ability to make charitable contributions from a complex trust?

9. For a trust to qualify as a simple trust, which of the following must it NOT do?

10. What is not a feature of a complex trust?