Martha Died and by Her Will, Specifically Bequeathed, and the Executor

question 77

Multiple Choice

Martha died and by her will, specifically bequeathed, and the executor distributed, $20,000 cash and a $70,000 house to Harold. The distributions were made in a year in which the estate had $65,000 of DNI, all from taxable sources. The maximum Harold will be required to report as gross income as a result of these distributions is

• A)$0.
• B)$20,000.
• C)$65,000.
• D)$70,000.

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