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 $254,000 after deducting Robert's $76,200 salary. In addition to his compensation, ABC pays Robert dividends of $177,800.
Question Content Area
a. What is Robert's qualified business income? $fill in the blank 85ef09037fb5f86_1
Question Content Area
b. What is Robert's qualified business income if you determined that reasonable compensation for someone with Robert's experience and responsibilities is $166,200?
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Horngrens Accounting The Financial Chapters
Authors: Tracie L. Miller Nobles, Brenda L. Mattison, Ella Mae Matsumura
10th Edition
0133117561, 978-0133117561
