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Degger [83]
3 years ago
14

Bonita is considering establishing a trust for her mother that will pay out $1,000 each month. The trust department at a local b

ank will act as trustee. Bonita will retain the right to revoke the trust and be the remainder beneficiary of the trust. If the trust earns $15,000 for the year, who must pay income tax on earnings?
Business
1 answer:
monitta3 years ago
7 0

Answer:

The Dependent or the Beneficiary collect $1000 every month pay income tax

Explanation:

Bonita is the policyholder that pay premium .

The mother is the dependent and the beneficiary ,who takes the trust monthly

The bank is the trustee that  disburse the trust fund to the beneficiary month .

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Answer:

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