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Cora Owns 6,000 Shares of KLM Stock, 2,000 Shares of BBT

Question 15

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Cora owns 6,000 shares of KLM stock, 2,000 shares of BBT Mutual fund, and 10,000 shares of Centex Corporation.Her 1099-DIV forms from these investments showed the following: KLM: $3 per share distribution all reinvested in KLM
BBT Mutual fund: $5 per share distribution, $1 of which represents a capital gain distribution; none of this is reinvested.
Centex: $2 per share distribution, all of which represents a return of capital.
How much must Cora include in her income in the current year?


A) $48,000
B) $28,000
C) $22,000
D) $20,000

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