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safezone safezone
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7 years ago
Fred, a cash-basis taxpayer, died on January 15, 2012. In 2013, the estate made a $9,000 distribution from estate income to Fred's sole heir. The estate had $20,000 of taxable interest and a $10,000 net long-term capital gain allocable to corpus. The estate incurred $5,000 in expenses attributable to the estate income. What is the estate's distributable net income (DNI)?
A) $15,000
B) $20,000
C) $25,000
D) $30,000
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Prentice Hall's Federal Taxation 2014 Corporations, Partnerships, Estates & Trusts

Prentice Hall's Federal Taxation 2014 Corporations, Partnerships, Estates & Trusts


Edition: 27th
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RimounRimoun
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safezone Author
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7 years ago
Thanks for your help!!
sleinhi
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You make an excellent tutor!
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Just got PERFECT on my quiz
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