CPA Reg Quiz
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FEDERAL TAXATION OF ENTITIES
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Willow Trust is a calendar-year simple trust. In 2025, it has $60,000 of taxable income after all deductions (excluding any income distribution deduction), and it is required to distribute all income currently under Internal Revenue Code Section 651. The trust distributes $50,000 in cash to the beneficiary during 2025, and the remaining $10,000 is distributed on January 10, 2026 (no election under Internal Revenue Code Section 663(b)). What is the allowable income distribution deduction for 2025 under Sections 651–662?
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