a. What amount of ordinary income and separately stated items are allocated to them for year 1 based on the information above Assume that Falcons Corporation has $200,000 of qualified property (unadjusted basis). Ordinary Income Section 179 expense Interest income Municipal bond income Government fines Distributions > Answer is not complete. Amount $ 175,000 30,000 X 12,000 X 1,500 Allocated to Julio $ 87,500 15,000 Allocated to Milania $ 6,000 X 750 200 X $ $2,000 $ $ 30,000 $ 15,000 $ 87,500 15,000 6,000 X 750 200 X 15,000

a. What amount of ordinary income and separately stated items are allocated to them for year 1 based on the information above Assume that Falcons Corporation has $200,000 of qualified property (unadjusted basis). Ordinary Income Section 179 expense Interest income Municipal bond income Government fines Distributions > Answer is not complete. Amount $ 175,000 30,000 X 12,000 X 1,500 Allocated to Julio $ 87,500 15,000 Allocated to Milania $ 6,000 X 750 200 X $ $2,000 $ $ 30,000 $ 15,000 $ 87,500 15,000 6,000 X 750 200 X 15,000

SWFT Comprehensive Volume 2019

42nd Edition

ISBN:9780357233306

Author:Maloney

Publisher:Maloney

Chapter28: Income Taxati On Of Trusts And Estates

Section: Chapter Questions

Problem 8DQ

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