STEP Society Of Trust And Estate Practitioners (TEP) Certification

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For a private foundation, which of the following counts as a 'qualifying distribution' toward the mandatory 5% annual payout requirement?

Contributions to a donor-advised fund held by a community foundation Federal excise taxes paid on investment income Grants to public charities and reasonable operating expenses for charitable purposes Investment management fees paid to manage foundation assets

Correct Answer:

Grants to public charities and reasonable operating expenses for charitable purposes

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