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6. Brady Corporation is a Nebraska Corporation, but owns business and investment property in surrounding states as well. What is the amount of nonbusiness income

6. Brady Corporation is a Nebraska Corporation, but owns business and investment property in surrounding states as well. What is the amount of nonbusiness income allocated to Nebraska?

  1. $17,000 of dividend income.
  2. $10,000 of interest income.
  3. $17,000 of rental income for South Dakota property.
  4. $20,000 of royalty income for an intangible used in South Dakota (where nexus exists).
  5. $24,000 of royalty income from Kansas (where nexus does not exist).
  6. $15,000 of capital gain from securities held for investment.
  7. $30,000 of capital gain on real property located in South Dakota

7.

Same facts as the prior questions, what is the amount of nonbusiness income allocated to South Dakota?

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