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The correct answer is TRUE with respect to a trust, the terms creator, donor, and grantor are synonyms.
Income distributed from a trust to its beneficiaries is referred to as distributable net income (DNI). The most money a unitholder or beneficiary may get before it becomes taxable is known as distributable net income. To prevent instances of double taxation, this amount has a maximum. The duties may include keeping track of costs and earnings, allocating money to beneficiaries, reporting any revenue the Trust receives, and documenting further activities. The simplest definition of a trustee is the person designated to oversee a trust's assets. The trustees would typically be instructed to determine the yearly Distributable Net Income (DNI), which becomes Undistributable Net Income if it is not distributed (UNI). Distributions are first matched to the DNI for the current year before the UNI for the previous year.
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