American College Exam HS330 Topic 2 Question 96 Discussion

Actual exam question for American College's HS330 exam

Question #: 96
Topic #: 2

[All HS330 Questions]

Which of the following statements concerning the taxation of estates and trusts is (are) correct?

l. They are taxed similarly to partnership entities.

II. They are taxed on distributable net income (DNI) that is retained.

Aonly

BII only

CBoth l and lI

DNeither I nor II

Show Suggested Answer

Suggested Answer: A

by Pearlie at Sep 09, 2024, 01:13 PM

Limited Time Offer

25%

Off

Contribute your Thoughts:

Submit Cancel

4 days ago

Why do you think that? I thought estates and trusts are taxed similarly to partnership entities.

upvoted 0 times

...

7 days ago

I'm pretty sure estates and trusts are taxed differently from partnerships. This seems like a tricky one.

upvoted 0 times

...

8 days ago

I disagree, I believe the answer is B) II only.

upvoted 0 times

...

9 days ago

I think the correct answer is C) Both l and II.

upvoted 0 times

...