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Hector borrowed $50,000 from his S Corporation. He did not pay back the loan. Hector was audited by the IRS and the Revenue Agent assessed
Hector borrowed $50,000 from his S Corporation. He did not pay back the loan. Hector was audited by the IRS and the Revenue Agent assessed tax on the amount Hector did not pay back. What type of income is this called? Retained Earnings Net Worth Constructive Dividend Return of Capital Passive Imputed Accrual Income
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