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Peter invests $50,000 for a 35% interest in Bethesda Company on January 1, 2018. During 2018, Bethesda pays Peter $50,000 in wages for his services
- Peter invests $50,000 for a 35% interest in Bethesda Company on January 1, 2018. During 2018, Bethesda pays Peter $50,000 in wages for his services as the general manager and $10,000 in cash distributions. Bethesda reports a 2018 net income of $100,000. What is Peters Gross Income? Show your calculation.
| Partnership | C Corporation | S Corporation | LLC (2 members, default) |
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