1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Alchen [17]
3 years ago
9

The Gomez Trust is required to distribute $80,000 annually, split equally between its two income beneficiaries, Lara and Byron.

If trust income is not sufficient to pay these amounts, the trustee can invade corpus to the extent necessary. During the current year, the trust has DNI of $60,000. Byron receives an additional $30,000 discretionary corpus distribution.
a. How much of the $40,000 distributed to Lara is included in her gross income?

b. How much of the $70,000 distributed to Byron is included in his gross income?

c. How much of these distributions are first-tier distributions or second-tier distributions?
Business
1 answer:
Maru [420]3 years ago
6 0

Answer:

A.$30,000

B.$30,000

C.First-tier of $30,000 to both beneficiarie

Explanation:

Gomez Trust

a. (1/2×DNI $60,000)

=$30,000

b.$30,000

c.First-tier of $30,000 to both beneficiarie in which First-tier distributions can be said to be those distributions which are often composed of trust accounting income that is required to be distributed currently.

Hence there are no second-tier distributions because the tier system only accounts for the annual DNI amounts, and all of the $60,000 DNI are been distributed on the first tier.

You might be interested in
A gardener has three herb beds she wishes to plant in a design that consists of three equilateral triangles laid out in such a w
densk [106]
The design is shown in the attached picture. An equilateral triangle has sides that have equal measurements. On the other hand, a vertex is the terminal point of at least two line segments. Therefore, when you join three equilateral triangles sharing a common vertex, that simply means that they have a common point.

8 0
3 years ago
Why may Consumers overspend when using a credit card?
Gekata [30.6K]
Because it is very easy to spend money that you do not have by using a credit card.  Most think they can pay it off the following month, but that rarely happens.
8 0
3 years ago
"At that time, the market price of ABC is $44. If the market rises to $58 and the call is exercised (the put expires out the mon
steposvetlana [31]

Answer:

600 loss

Explanation:

The computation of the gain or loss is shown below:

Since on Jan, there is a put option of 45 at $3 and the market rises to $58

So it losses by 13 points i.e

= 45 - 58

= 13

Now the total premium points collected is of 7 i.e

= 4 + 3

= 7

So, the remaining points left is

= 13 - 7

= 6

So for 6 points, the net loss is $600

7 0
4 years ago
Jamie works as a salesperson at a car dealership. He takes his sales very seriously. After selling a car to a customer, he waits
Alika [10]

Answer:

cognitive dissonance

Explanation:

Cognitive dissonance -

It is a type of mental stress which is felt by a person , who have two or more contradictory ideas or beliefs regarding any action , is known as cognitive dissonance .

This problem increases due to any new idea or new approach .

hence , from the question , Jamie , being a good salesperson ,  after selling the car , wait at least for a week and then call the customer to to insure them for their good decision .

Hence , Jamie is trying to reduce cognitive dissonance .

7 0
3 years ago
What are the major jobs of MBBS doctor?​
Phantasy [73]
Physician
Surgeon
Professor
Scientist
6 0
2 years ago
Other questions:
  • Different bosses have the authority to run their own departments in
    10·2 answers
  • Compare the world population index for 1960 to the world population index for 2000. then express the world population in 2000 as
    11·1 answer
  • Nathan owns a quick-lube oil service station. He wants to understand whether his customers are sensitive to price and if he shou
    8·1 answer
  • You just deposited $4,000 in cash into a checking account at the local bank. Assume that banks lend out all excess reserves and
    9·1 answer
  • For which purpose do producers use surveys and focus group?
    12·2 answers
  • Georgetown Public Media is trying to determine the optimum amount for its advertising budget. Calculating the marginal revenue o
    13·1 answer
  • Please i need an urgent answer what is feeding regime​
    14·1 answer
  • 1. Which item is considered a retail product?
    7·1 answer
  • The following labor standards have been established for a particular product: Standard labor-hours per unit of output 9.4 hours
    14·1 answer
  • If the amount of factory overhead cost incurred exceeds the amount applied, the factory overhead account will have a:______
    6·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!