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    deejay23's Avatar
    deejay23 Posts: 1, Reputation: 1
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    #1

    Dec 11, 2010, 09:00 AM
    Taxation Problem
    Sally W. Emanual had the following dividends and interest during the current year.

    Acorn Corporation bond interest $700
    City of Boston bongs interest 1,000
    Camp Bank interest 1,250
    Jet Corporation dividend(Qualified) 1,300
    North Mutual fund
    Capital gain distribution 100
    Ordinary dividend(Qualified) 150
    Nontaxable distribution +200 ---> 450
    Blue Corporation foreign dividend 250

    Additional information pertaining to Sally Emanual includes
    Salary 30,000
    Rent Income 12,000
    Expenses related to rent income 14,000
    Pension benefits 8,000
    Alimony paid to Sally 4,000

    The taxable portion of the pension is $7,000. Sally actively participates in the rental activity. Other relevant information includes
    Address: 430 Rumsey Place, West Falls, California 92699
    Occupation: Credit Manager
    SSN: 123-45-4321
    ebaines's Avatar
    ebaines Posts: 12,131, Reputation: 1307
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    #2

    Dec 13, 2010, 07:23 AM

    Please do not post homework problems here. If you have a specific question about how to deal an aspect of this problem please ask, but don't expect anyone to provide you with a completed return for this hypothetical client.
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