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What is the fiduciary gross income

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Problem - The entity reports the following transactions for the 2019 tax year.

1. Operating income from a business $555,000.

2. Dividend income, all from U.S. corporations 33,300.

3. Interest income, City of San Antonio bonds 4,440,000.

4. Fiduciary fees, deductible portion (16,650).

5. Net rental losses, passive activity( 111,000).

Required - What is the fiduciary's gross income taxed at 20% for the Valerio Trust?

Reference no: EM132462377

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