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84. Mr. Vernon owns stock in two S corporations, Able Corporation and Benson Inc. This year, Mr. Vernon had the following income and loss items.
84. Mr. Vernon owns stock in two S corporations, Able Corporation and Benson Inc. This year, Mr. Vernon had the following income and loss items. Salary $74,000 Business income from Able 20,000 Business loss from Benson (33,000) If Vernon materially participates in Able's business but not in Benson's business, compute his AGI. A. $94,000 B. $74,000 C. $61,000 D. $41,000
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