Michael B
Level 1
Saturday
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
No. In fact I increased trust accounting income by the amount of taxes chargeable to principal but the income distribution deduction that is coming through is net of the tax because it is a lesser amount than trust accounting income as adjusted.
The lesser amount is equal to adjusted taxable income which takes ito account the state taxes paid on the capital gais.