Question
Robert is the sole shareholder and CEO of ABC, Inc., an S corporation that is a qualified trade or business. During the current year, ABC
Robert is the sole shareholder and CEO of ABC, Inc., an S corporation that is a qualified trade or business. During the current year, ABC has net income of $269,000 after deducting Robert's $80,700 salary. In addition to his compensation, ABC pays Robert dividends of $188,300.
a. What is Robert's qualified business income? $fill in the blank 583ac403900800f_1
b. What is Robert's qualified business income if you determined that reasonable compensation for someone with Robert's experience and responsibilities is $170,700?
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Computer Accounting With Peachtree Complete 2004 Release 11.0
Authors: Carol Yacht, Peachtree Software
8th Edition
0072987952, 978-0072987959
