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THE ABLE CORPORATION ELECTED S CORPORATION STATUS FOR THE CURRENT YEAR, IN WHICH TAXABLE INCOME WAS $830,000.00, 75% ORDINARY INCOME AND 25% LONG TERM
THE ABLE CORPORATION ELECTED S CORPORATION STATUS FOR THE CURRENT YEAR, IN WHICH TAXABLE INCOME WAS $830,000.00, 75% ORDINARY INCOME AND 25% LONG TERM CAPITAL GAIN. SHAREHOLDER OLIVER HAS A 30 % INTEREST FOR THE FIRST 150 DAYS OF THE YEAR. OLIVER'S K1 WOULD REFLECT WHAT INCOME TO BE RECOGNIZED FOR THE YEAR AND WHAT WOULD BE THE CHARACTER OF THAT INCOME? TOTAL INCOME? CHARACTER OF INCOME?
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Income Tax Fundamentals 2013
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
31st Edition
1111972516, 978-1285586618, 1285586611, 978-1285613109, 978-1111972516
