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In 2020, Soup Corporation, a C corporation, has earnings of $100,000. It paid $20,000 in dividends to its sole shareholder, Grace. Grace also has a
In 2020, Soup Corporation, a C corporation, has earnings of $100,000. It paid $20,000 in dividends to its sole shareholder, Grace. Grace also has a restaurant, Sandwich Caf, which she operates as a sole proprietorship in 2020 with income of $125,000 and expenses of $50,000. What is the total income that she will report in her personal return from both Soup and Sandwich?
Question 10 options:
| $35,000 |
| $95,000 |
| $115,000 |
| $175,000 |
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