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juanita owns 45% of the stock in a C corporation that had a profit of 120,000$ in 2011. Carlos owns a 45% interest in a
juanita owns 45% of the stock in a C corporation that had a profit of 120,000$ in 2011. Carlos owns a 45% interest in a partnership that had a profit of 120,000$ during the year. the corporation distributed 20,000$ to juanita, and the partnership distributed 20,000$ to carlos. which of the following statements relating to 2011 is incorrect? a. juanita must report 20,000$ of income from the corporation. b. the corporation must pay corporate tax on 120,000$ of income . c. carlos must report 20,000$ of income from the partnership. d. the partnership is not subject to federal entity level income tax
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