Minna is a 50% owner of a calendar-year S corporation. During the current year, the S corporation had ordinary income of $400,000, short-term capital gain of $150,000 and a charitable contribution of $30,000. What does Minna report for the year from the S corporation?
What will be an ideal response?
Minna has $200,000 ordinary income, $75,000 short-term capital gain and a charitable contribution of $15,000. Depending on the remaining components of her taxable income, Minna may also be eligible for a qualified business income deduction.
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Fill in the blank(s) with correct word
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A. principal can transfer liability to the agent while enjoying the benefits of the action. B. action may be ratified provided that the principal is a corporation. C. action cannot be ratified by the principal. D. principal may not ratify only a portion of the action.
If a company is interested in determining the in-store shelf exposure of their brand versus competitive brands, the most effective way to obtain this information is via:
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The SBA's Microloan program is their primary business loan program.
Answer the following statement true (T) or false (F)