In: Accounting
What amount of the $150,000 is taxable to Karen?
After the first tier distributions ($60000/2 = $30000 to each income beneficiaries) are accounted for, $100000 DNI remains to be assigned to the beneficiaries on the second tier ($160000 DNI - $60000 DNI used for first tier distribution).
Amount Received DNI Received =Gross Income ,Portfolio Income
First Tier $30000 $30000
Second Tier $120000 $120000
Total $150000 $150000
What amount of the $30,000 is taxable to Kim?
Amount Received DNI received =Gross Income,Portfolio income
First Tier $30000 $30000
Second Tier 0 0
Total $30000 $30000
What is DNI after the required distribution?
The DNI after the required distribution is ($160000-$60000)= $100000 | |