Liz and Doug were divorced on December 31, 2019, after 10 years of marriage. The couples income
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Liz and Doug were divorced on December 31, 2019, after 10 years of marriage. The couple’s income received before the divorce included:
Doug’s salary...............................................$41,000
Liz’s salary....................................................55,000
Rent on apartments purchased by Liz 15 years ago...............................8,000
Dividends on stock Doug inherited from his mother 4 years ago.........1,900
Interest on a savings account in Liz’s name funded with her salary......2,400
Allocate the income to Liz and Doug, applying the community property rules of:
a. California.
b. Texas.
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Related Book For
South-Western Federal Taxation 2020 Essentials Of Taxation Individuals And Business Entities
ISBN: 9780357109175
23rd Edition
Authors: Annette Nellen, James C. Young, William A. Raabe, David M. Maloney
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