Question
mr vernon owns stock in two S corporations, able corporation and benson inc. this year mr vernon had the following income and loss items. Salary
mr vernon owns stock in two S corporations, able corporation and benson inc. this year mr vernon had the following income and loss items.
| Salary | $74,000 |
| Business income from Able | $20,000 |
| Business loss from Benson | $(33,000) |
if Vernon materially participates in Able's business but not in Benson's business, compute AGI.
$41,000
$61,000
$94,000
$74,000
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Financial And Managerial Accounting Information For Decisions
Authors: John Wild, Ken Shaw, Barbara Chiappetta
7th Edition
1259726703, 9781259726705
