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anastassius [24]
3 years ago
6

Trust incurred $10,000 of portfolio income. Its corporate trustee paid fiduciary fees of $1,000 therefrom, and also paid $1,000

in premiums for a life insurance policy on Marcia, the grantor of the trust. How much gross income does Marcia include with respect to these trust activities?
A) $800.
B) $1,000.
C) $8,000.
D) $9,000.
E) $10,000.
Business
1 answer:
Dima020 [189]3 years ago
4 0

Answer:

$1,000

Explanation:

Based on the information given the

GROSS INCOME amount that Marcia will include with respect to these trust activities will be the amount of $1,000 because we were told that the amount of $1,000 was paid in premiums for a LIFE INSURANCE POLICY ON MARCIA who is the GRANTOR OF THE TRUST, although The trust is not categorized as a grantor trust reason been that the TRUSTEE was authourized to pay the life insurance premiums

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