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  answer-question

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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