An estate receives the following items of income and has the following deductions during the tax year
Question:
An estate receives the following items of income and has the following deductions during the tax year 2019:
The estate files an income tax return for the calendar year 2019. No distributions were made during the year to beneficiaries. Based on these facts, what is the 2019 federal income tax liability of the estate?
Transcribed Image Text:
Income Dividends Taxable interest Tax-exempt interest Total income Deduction Fiduciary fee $5,000 5,000 5,000 $15,000 $2,000
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Related Book For
CCH Federal Taxation Basic Principles 2020
ISBN: 9780808051787
2020 Edition
Authors: Ephraim P. Smith, Philip J. Harmelink, James R. Hasselback
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