CPA Regulation (REG) Question of the Day

Test your knowledge with a hand-picked multiple-choice question.

A distribution to an estate’s sole beneficiary for the current calendar year equaled $15,000, the amount currently required to be distributed by the will. The estate’s current year records were as follows:

  • Estate income: $40,000 Taxable interest
  • Estate disbursements: $34,000 Expenses attributable to taxable interest

What amount of the distribution was taxable to the beneficiary?

Select an answer and click Check.
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