Distributions is non-taxable

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Reference no: EM13151613

Which one of the following distributions is nontaxable?

a. Mutual fund distributions from its net realized long-term capital gains in the amount of $1,000. You have an adjusted basis of $10,000 in the mutual fund.

b. Return of capital distribution from a utility company in the amount of $2,000. You have a zero basis in this stock.

c. Dividend on insurance policy in the amount of $1,000. As of the date of this dividend your net premiums exceed the total dividends by $3,500.

d. Your share of an ordinary dividend received by an S corporation in the amount of $25,000.

Reference no: EM13151613

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