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Can you show all the calculations for each problem? Janice is the sole owner of Catbird Company. In the current year, Catbird had operating income
Can you show all the calculations for each problem?
Janice is the sole owner of Catbird Company. In the current year, Catbird had operating income of $100,000, a long-term capital gain of $15,000, and a charitable contribution of $5,000. Janice withdrew $70,000 of profit from Catbird. How should Janice report this information on her tax return if Catbird Company is:
a. An LLC?
b. An S corporation?
C. A C corporation?
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