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Problem 3-37(10. 1,3) Jonathan owns 100% of Lemon Company a calendar year entity. In the current year, como recognizes a long-term capital gain of 570,000
Problem 3-37(10. 1,3) Jonathan owns 100% of Lemon Company a calendar year entity. In the current year, como recognizes a long-term capital gain of 570,000 and no other income for loss), Jonathan is in the 37% tax bracket (and 20% tax bracket for any net capital gains or dividends) and has no recognized capital gains (or losses) before considering his owners Interest in Lemon Company What is the income tax result from the $70,000 i Lumon is fal an LLC and (b) a corporation a. Lemon is an LLC Assuming section has been filed under the check-the-box Regulations, the tax on the $70.000 tong tum capital gains b. If Lemon a corporation the tax on the $70,000 long term capital gain
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