Ms. Watts owns stock in two S corporations, MKP Corporation and Reynolds Inc. This year, Ms. Watts had the following income and loss items. Salary$113,700 Business income from MKP$42,000 Business loss from Reynolds$(28,000)If Ms. Watts materially participates in the business of both corporations, compute her AGI.
A. $113,700
B. $85,700
C. $127,700
D. $155,700
Answer: C
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