Business
Business, 24.06.2021 23:20, ShlomoShekelstein

Lyon, a cash-basis taxpayer, died on January 15, Year 2. In Year 2, the estate executor made the required periodic distribution of $9,000 from estate income to Lyon's sole heir. The following pertains to the estate's income and disbursements in Year 2: Year 2 Estate Income $20,000 Taxable interest 10,000 Net long-term capital gains allocable to corpus $10,000 Estate Disbursements $5,000 Administrative expenses were attributable to taxable income. For the Year 2 calendar year, what was the estate's distributable net income (DNI)?

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Lyon, a cash-basis taxpayer, died on January 15, Year 2. In Year 2, the estate executor made the req...

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