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Compute Mona deduction

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Reference no: EM132650972

Problem - The Sterling Trust owns a business and generated $100,000 in depreciation deductions for the tax year. Mona is one of the income beneficiaries of the entity.

a. Given the following information, compute Mona's deduction, if any, for the Sterling depreciation.

Sterling's taxable income from the business $800,000

Sterling's gross income from the business 4,000,000

Mona's share of trust accounting income 500,000

Total trust accounting income 2,500,000

Mona's share of distributable net income 1,200,000

Total distributable net income 1,600,000

b. Express your solution as a Microsoft Excel command.

Reference no: EM132650972

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