During 2016, an estate generated income of $20,000: Rental income . . . . . . .
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During 2016, an estate generated income of $20,000:
Rental income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $9,000
Interest income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6,000
Dividend income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5,000
The interest income is conveyed immediately to the beneficiary stated in the decedent's will. The dividends are given to the decedent's church.
What is the taxable income of the estate?
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Related Book For
Advanced Accounting
ISBN: 978-1259444951
13th edition
Authors: Joe Ben Hoyle, Thomas Schaefer, Timothy Doupni
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