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For the first five months of its existence (August through December 2008), the Estate of Christine Lowry had gross income (net of expenses) of $7,000 per month. For January through July 2009, the executor estimates that the estate will have gross income (net of expenses) totaling $5,000. The estate's sole beneficiary is Christine's son, Jonathan, who is a calendar-year taxpayer. Jonathan incurred a large NOL from his sole proprietorship years ago, and $34,000 of the NOL carryover remains but expires at the end of 2008. During 2008, Jonathan received only $5,000 of income from part-time employment. What tax issues should the executor of Christine's estate consider with respect to the reporting of the estate's income?

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