Mark Meadows funded a trust in 2014 with Merchants Bank

Mark Meadows funded a trust in 2014 with Merchants Bank named as trustee. He paid no gift tax on the transfer. The trustee in its discretion is to pay out income, but not principal, to Mark’s children, Angela and Barry, for 15 years. Then the trust will terminate, and its assets, including accumulated income, will be paid to Angela and Barry in equal amounts. (Separate shares are not to be maintained.) In the current year, the trustee distributes $3,000 to Angela and $9,000 to Barry. The trust paid estimated federal income taxes of $6,000 from the principal account and reported the following additional results for the current year. The trust instrument requires trustee’s fees to be paid from principal.

Prepare a Form 1041, including any needed Schedule K-1s, for the trust established by Mr. Meadows. Ignore the alternative minimum tax (AMT). The trustee’s address is 201 Fifth Ave., Northeast City, NY 10000. The trust’s identification number is 74-1212121. Angela and Barry reside at 3 East 46th St., North City, NY 11000.

How Our Website Works

1. FILL IN OUR SIMPLE ORDER FORM

It has never been easier to place your order. Fill in the initial requirements in the small order form located on the home page and press “continue” button to proceed to the main order form or press “order” button in the header menu. Starting from there let our system intuitively guide you through all steps of ordering process.

2. PROCEED WITH THE PAYMENT

All your payments are processed securely through PayPal. This enables us to guarantee a 100% security of your funds and process payments swiftly.

3. WRITER ASSIGNMENT

Next, we match up your order details with the most qualified freelance writer in your field.

4. WRITING PROCESS

Once we have found the most suitable writer for your assignment, they start working on a masterpiece just for you!

5. DELIVERY

Once finished, your final paper will be available for download through your personal dashboard. You will also receive an email notification with a copy of your paper attached to it. Sometimes, the writer may leave a note for you about the order in case there is any additional information that they need to give you.

Leave a Reply

Your email address will not be published.