Which of the following statements concerning the federal income taxation of estates is (are) correct?

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Which of the following statements concerning the federal income taxation of estates is (are) correct?

I. An estate is entitled to a personal exemption of $300 and a standard deduction.

ll. An estate is entitled to a tax deduction for amounts of income distributed.
A . l only
B . II only
C . Both l and ll
D . Neither l nor ll

Answer: B