On January 2, 2015, Carlt created a $300,000 trust that provided his mother with a lifetime income interest starting on January 2, 2015, with the remainder interest to go to his son. Carlt expressly retained the power to revoke both the income interest and the remainder interest at any time. Who will be taxed on the trust's 2015 income?
a. Carlt's mother.
b. Carlt's son
c. Carlt.
d. The Trust
Answer: C
Tax
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