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Question - Taylor, a cash-basis taxpayer, died on August 13. During the year, the estate's executor made a distribution of $125,000 from estate income to Taylor's sole heir and adopted a calendar year to determine the estate's taxable income.
The following additional information pertains to the estate's income and disbursements for the year:
Estate Income
Taxable interest $45,000
Net long-term capital gains allocable to corpus 10,000
Disbursements from the estate:
Administrative expenses 12,000
Charitable contributions per will requirements 8,000
Required - For the calendar year, what was the estate's distributable net income (DNI)?
a. $35,000.
b. $37,000.
c. $47,000.
d. $25,000.
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