Julio and Milania are owners of Falcons Corporation, an S corporation. They each own 50 percent of
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Julio and Milania are owners of Falcons Corporation, an S corporation. They each own 50 percent of Falcons Corporation. In year 1, Julio and Milani received distributions of $20,000 and $10,000, respectively, from Falcons Corporation.
b. Complete Falcons Form 1120S, Schedule K for year 1.
c. Complete Julio's 1120S, Schedule K-1 for year 1.
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Related Book For
Taxation Of Individuals And Business Entities 2015
ISBN: 9780077862367
6th Edition
Authors: Brian Spilker, Benjamin Ayers, John Robinson, Edmund Outslay, Ronald Worsham, John Barrick, Connie Weaver
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