The Dolce Estate reports the following items for the current tax year. Dividend income                                      $ 50,000 Taxable interest income                       8,000 Passive activity income                         30,000 Tax-exempt interest

FINANCIAL ACCOUNTING
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Chapter1: Financial Statements And Business Decisions
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The Dolce Estate reports the following items for the current tax year.

Dividend income                                      $ 50,000
Taxable interest income                       8,000

Passive activity income                         30,000

Tax-exempt interest income               12,000

Distributable net income                      $100,000

Dolce’s two noncharitable income beneficiaries, Brenda and Dev, receive cash distributions of $20,000 each. How much of each class of income is deemed to have been distributed to Brenda? To Dev?

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