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The following information is from Robin Hood Inc. Advertising Expenses $ (400,000) Capital Gains $ 150,000 Capital Losses (this year) $ (200,000) Capital Losses (prior
The following information is from Robin Hood Inc.
Advertising Expenses | $ (400,000) |
|
Capital Gains | $ 150,000 |
|
Capital Losses (this year) | $ (200,000) |
|
Capital Losses (prior year) | $ - |
|
Cost of Goods Sold | $ (4,000,000) |
|
Dividend "A" income | $ 200,000 |
|
Dividend "B" income | $ 100,000 |
|
Dividend "C" income | $ 50,000 |
|
General and Admin Expenses | $ (1,300,000) |
|
Interest Expense | $ (500,000) |
|
Sales | $9,000,000 |
|
- In addition, Robin purchased equipment at the beginning of the year for $750,000. The equipment has a useful life and a salvage value of 14 years and $50,000 respectively.
- Robin Hood Inc. has varying ownership interest in the 3 companies listed below and receives dividend income from each company.
Robin owns 15% of Company A
Robin owns 45% of Company B
Robin owns 90% of Company C
- How much of Robins capital gains are taxable?
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