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BlueCo, Inc., an S corporation, has $2,000,000 of accumulated E&P. It reports sales revenues of $400,000, taxable interest of $340,000, taxable dividends of $40,000, operating
BlueCo, Inc., an S corporation, has $2,000,000 of accumulated E&P. It reports sales revenues of $400,000, taxable interest of $340,000, taxable dividends of $40,000, operating expenses of $250,000, and deductions related to interest income of $140,000. What is BlueCos passive income penalty tax payable, if any?
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