Deal of The Day! Hurry Up, Grab the Special Discount - Save 25% - Ends In 00:00:00 Coupon code: SAVE25
Welcome to Pass4Success

- Free Preparation Discussions
Mail Us support@pass4success.com
Location US
Mob_nav_barsMENU

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.

Show Suggested Answer Hide Answer
Suggested Answer: A

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

Limited Time Offer

25%

Off

Get Premium HS330 Questions as Interactive Web-Based Practice Test or PDF

Contribute your Thoughts:

Submit Cancel
Mira
1 months ago
Seriously, who came up with these exam questions? They're probably just trying to trip us up. I'm going with 'neither' and hoping for the best.
upvoted 0 times
Laquita
16 days ago
I think I'll go with 'Both l and lI' just to be safe.
upvoted 0 times
...
...
Zack
1 months ago
Wait, are we supposed to remember the tax rules for estates and trusts? I thought this was an exam on something else entirely!
upvoted 0 times
Ernie
13 days ago
User 2: I agree, they are taxed on distributable net income that is retained.
upvoted 0 times
...
Keneth
28 days ago
User 1: I think the correct answer is B) II only.
upvoted 0 times
...
...
Shawana
1 months ago
Hmm, I think the key is understanding the concept of distributable net income. That's got to be the correct answer.
upvoted 0 times
...
Nichelle
2 months ago
Why do you think that? I thought estates and trusts are taxed similarly to partnership entities.
upvoted 0 times
...
Dana
2 months ago
I'm pretty sure estates and trusts are taxed differently from partnerships. This seems like a tricky one.
upvoted 0 times
Antonio
8 days ago
I agree, they are taxed on distributable net income (DNI) that is retained.
upvoted 0 times
...
Melodie
16 days ago
B) II only
upvoted 0 times
...
Douglass
27 days ago
I think it's A) only because estates and trusts are not taxed similarly to partnership entities.
upvoted 0 times
...
Chantay
1 months ago
A) only
upvoted 0 times
...
...
Cordelia
2 months ago
I disagree, I believe the answer is B) II only.
upvoted 0 times
...
Nichelle
2 months ago
I think the correct answer is C) Both l and II.
upvoted 0 times
...

Save Cancel