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Which of the following is a true statement regarding the…

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Which of the following is a true statement regarding the taxation of interest and dividends on a fiduciary income tax return?Only interest and dividends not treated as distributed to the beneficiaries should be reported on page 1.
Interest and dividends received in the tear of the decedent's death are reported in their entirety on the Form 1041 of the estate.
If a trust receives municipal bond interest, it must allocate administrative expenses between taxable and tax-exempt income.
Brokers are required to issue consolidated Form-1099 to trusts and estates by January 31 rather than the February 15 due date for individuals.
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3/25/2018
Lev
Lev, Tax Advisor
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If a trust receives municipal bond interest, it must allocate administrative expenses between taxable and tax-exempt income.

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