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Allocate the income to Liz and Doug

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Problem - Liz and Doug were divorced on December 31, 2019, after 10 years of marriage. Their current year's income received before the divorce was as follows:

Doug's salary $41,000

Liz's salary 55,000

Rent on apartments purchased by Liz 15 years ago 8,000

Dividends on stock Doug inherited from his mother 4 years ago 1,900

Interest on a savings account in Liz's name funded with her salary 2,400

Required - Allocate the income to Liz and Doug assuming that they live in California and Texas.

Reference no: EM132665889

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