1.Peter owns 35% of the interest in Bethesda Company. During the current year, Heath Corporation has...
1.Peter owns 35% of the interest in Bethesda Company. During the current year, Heath Corporation has taxable income of $80,000 and pays dividends of $10,000. What is Peter’s Gross Income in difference types of business? Show your calculation.
Homework Answers
Please see the table below for calculations as well as final answers:
|
Partnership |
C Corporation |
S Corporation |
LLC (2 members, default) |
|
|
Gross Income |
= 35% x $ 80,000 = $ 28,000 |
= 35% x 10,000 = $ 3,500 |
= 35% x $ 80,000 = $ 28,000 |
= 35% x $ 80,000 = $ 28,000 |
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1.Peter owns 35% of the interest in Bethesda Company. During the
current year, Heath Corporation has...
1.Peter owns 35% of the interest in Bethesda Company. During the current year, Heath Corporation has taxable income of $80,000 and pays dividends of $10,000. What is Peter’s Gross Income in difference...
1.Peter owns 35% of the interest in Bethesda Company. During the current year, Heath Corporation has taxable income of $80,000 and pays dividends of $10,000. What is Peter’s Gross Income in difference types of business? Show your calculation Partnership C Corporation S Corporation LLC (2 members, default) Gross Income
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