Question

The Dolce Estate reports the following items for the current tax year.
Dividend income ..............$ 50,000
Taxable interest income ........... 8,000
Passive activity income ............. 30,000
Tax-exempt interest income .......... 12,000
Distributable net income ............ $100,000
Dolce’s two noncharitable income beneficiaries, Brenda and Del, receive cash distributions of $20,000 each. How much of each class of income is deemed to have been distributed to Brenda? To Del?


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  • CreatedSeptember 09, 2015
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