Hallaway living Trust has following: Interest Income $6,000 Municipal interest i

Question

Hallaway living Trust has following:

Interest Income                               $6,000

Municipal interest income           $2,500

Ordinary and Qualified Dividend                               $6000

Gain on Capital Assest                                   $18,000

Fiduciary Fee                                                     $2500

Tax Preparation fee                                        $500

What amount of qualified dividends is allocable to the trust for 2016?

1. $ 600

2. $ 1,284

3. $ 4,716

4. $ 6,000

Explanation / Answer

Answer :- Option 2). $. 1,284.

Explanation :- Portion of Qualified dividend allocable to trust = 6000 * 21.4 %

= $ 1,284. (Option 2).

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