Question: Joan died April 17, 2012. Joan's executor chose March 31 as the tax year end for the estate. The estate's only beneficiary, Kathy, reports on

Joan died April 17, 2012. Joan's executor chose March 31 as the tax year end for the estate. The estate's only beneficiary, Kathy, reports on a calendar year. The executor of Joan's estate makes the following distributions to Kathy:
June 2012 ..................................... $ 5,000
August 2012 .................................. 10,000
March 2013 ................................... 12,000
August 2013 .................................. 14,000
The 2012 and 2013 distributions do not exceed DNI. How much income should Kathy report on her 2012 return as a result of the distributions from the estate? On her 2013 return?

Step by Step Solution

3.49 Rating (176 Votes )

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock

The income is taxed to Kathy on the return for Kathys tax year in which the ... View full answer

blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Document Format (1 attachment)

Word file Icon

1151-L-B-L-T-L(6442).docx

120 KBs Word File

Students Have Also Explored These Related Business Law Questions!