Joe's estate consists of $500,000. His will makes the following bequests: $10,000 to his sister, Sally, $20,000 to his nephew Alex, and the rest of his estate to his mother, Carolyn. During the first year of the administration of his estate, his estate has earned $50,000 in income. Upon closing of the estate, his executor makes the specific bequests to Sally and Alex, and distribute all remaining assets to Carolyn. TRUE OR FALSE: Alex will have to claim the $20,000 as income as it was a distribution from the estate and the estate had $50,000 of income