rust, had datnibutasle net income (DN) n Year 4 of $10,000 Of the $10,000 of DNI $4,0o0 was ass buted The Morgan Trust a complex t to trust beneficianies or the $4,000 distributed, which taxpayerts) it any ae responsible tor the tax labaty on the $4,000 distribution? A. The Mergan Toust B. Neiher the Morgan Trest nor the trust bencis C. The tnust benefkciates D. the Morgan Tust and the tnust beneficiades Lane, a single taxpayer, receved $160,000 in salary, $15,000 in paracipate, and a $35.000 passive loss trom a real estate rental acoivity gross income was $165,000 what amount of the real estate rental activity loss was deductl income from an S Corporation in which Lane soes not materaty in which Lane materiaty parbopated Lane's moditied ajusted 8 $35.000 C$25,000 D. $15.00 In the current year, a taxpayer reports the folowing tems Salary lacom Passive activity loss from parneship B 50.000 e from parteership A, in which the taxpayer materialy participates 20,000 (40.000) ear, the taxpayer dsposes of the interest in partnership B, which had a suspended loss carryover er s10,000 from prior years what is the taxpayers acjusted gross income tor the current year? A. $20,000 8. $70,000 C. $30,000 D. $60,000 Robert Corp granted an incenive stock option for 200 snare on the date ot grant was $150 Beverly exercised the option on August 2. Year 14, when the FMv was $180 per share on September 20, Year 15, for $250 per share. How much gross income did Beverly recognize in Year 15? es to Beverly, an employee, on March 14, Year 12. The oppon price and FMV A. $150 $30,000 C. $20.000 D. $0