An estate has the following income: Rental income . . . . . . . . .
Question:
An estate has the following income:
Rental income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 5,000
Interest income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3,000
Dividend income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,000
The interest income was immediately conveyed to the appropriate beneficiary. The dividends were given to charity as per the decedent’s will. What is the taxable income of the estate?
a. $4,400
b. $5,000
c. $8,000
d. $8,400
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Muhammad Salman Alvi
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Related Book For 
Advanced Accounting
ISBN: 9781260247824
14th Edition
Authors: Joe Ben Hoyle, Thomas Schaefer, Timothy Doupnik
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