Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

A shareholder owns 4 5 % of a S corporation stock for 1 7 5 days and 4 0 % of the S corporation s

A shareholder owns 45% of a S corporation stock for 175 days and 40% of the S corporations stock for the remaining days of the tax year (365 day year- not a leap year). If the ordinary income of the S corporation is $100,000, what will be the shareholders share of the ordinary income of the S corporation?

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Fundamentals Of Entrepreneurial Finance

Authors: Marco Da Rin, Thomas Hellmann

8th Edition

0199744750, 9780199744756

More Books

Students also viewed these Accounting questions