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It pays a trustee fee of 5000 which the trust agreement

Problem

A simple trust has ordinary gross taxable income of $20,000. It also has $10,000 of capital gains which are allocated to trust principal under Florida's Principal and Income Act, Chapter 738, Florida Statutes. It pays a trustee fee of $5,000 which the trust agreement directs must be paid from trust principal. How much is the trust's accounting income?

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Accounting Basics: It pays a trustee fee of 5000 which the trust agreement

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Accounting Basics: It pays a trustee fee of 5000 which the trust agreement

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