LO.3 The Dailey Estate has $100,000 of DNI, composed of $40,000 in dividends, $20,000 in taxable interest,
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LO.3 The Dailey Estate has $100,000 of DNI, composed of $40,000 in dividends,
$20,000 in taxable interest, $15,000 of passive activity income, and $25,000 in tax-exempt interest. The entity’s two noncharitable income beneficiaries, Brenda and Del, receive cash distributions of $20,000 each. How much of each class of income is deemed to have been distributed to Brenda? To Del?
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Related Book For 
South Western Federal Taxation 2013 Corporations Partnerships Estates And Trusts
ISBN: 9781133495574
36th Edition
Authors: William H. Hoffman, William A. Raabe, James E. Smith, David M. Maloney
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