complete the income section of form 1041 for the Jackson Trust and a Schedule D. $2623...
complete the income section of form 1041 for the Jackson Trust and a Schedule D. $2623 taxable interest, $523 of municipal bond interest, $1501 ordinary dividends, $312 paid for property taxes, $800 paid for trustees fees, $1200 paid for attorneys fees, 100 shares of Peach Inc, were purchased on January 15 2015 for $20000 and were sold on April 12 2018 for $21234. What is the amount on line 16 of Schedule D? What is the amount on Form 1041, line 9?
Homework Answers
ANSWER:
Schedule D - Line 16
Long Term capital gain on sale of shares=$21234 - $20000 = $1234
Long Term capital gain on sale of shares= $1234
Form 1041 - Line 9
Taxable Interest =$2623
Ordinary Dividends=$1501
Long Term Capital Gain=$1234
Total Income (Line 9) = $2623 +$1501 +$1234
Total Income (Line 9) = $5358
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