In 2017, B Corporation: (i) had $100,000 income from operations, (ii) Received a $10,000 dividend from X
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In 2017, B Corporation: (i) had $100,000 income from operations, (ii) Received a $10,000 dividend from X Corporation of which B owned less than 1%, and (iii) contributed $15,000 cash to a qualified charitable organization. In 2018, B Corporation: (i) had $100,000 of income from operations and sold its X stock (which it had owned for 10 years) for a net capital gain of $20,000. What is B taxable income in 2018?
Related Book For
Canadian Income Taxation planning and decision making
ISBN: 9781259094330
17th edition 2014-2015 version
Authors: Joan Kitunen, William Buckwold
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