Multiple Choice
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
Correct Answer:

Verified
Correct Answer:
Verified
Q10: To whom do the doctrines of constructive
Q11: Which of the following is not a
Q12: Myra retired last year from Whiplash Company
Q13: The basis in inherited property is normally
Q14: Natasha graduated at the top of
Q16: Taylor Corporation, an accrual-basis calendar-year corporation, rented
Q17: Jabo Corporation has its home office and
Q18: The assignment of income doctrine allows one
Q19: Blinder Corporation was having some cash flow
Q20: Wilma purchased an annuity policy for $100,000