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safezone safezone
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7 years ago
For the calendar year, Elk Corporation, an S corporation, has book income of $55,000, which includes $45,000 from operations and a $10,000 net long-term capital gain. During the year, $22,500 is distributed to Elk's three equal shareholders, all of whom are calendar-year taxpayers. What are Elk's total ordinary income and capital gain pass-throughs for the year?
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Prentice Hall's Federal Taxation 2014 Corporations, Partnerships, Estates & Trusts

Prentice Hall's Federal Taxation 2014 Corporations, Partnerships, Estates & Trusts


Edition: 27th
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That's not philosophy, it's geometry
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RimounRimoun
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safezone Author
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7 years ago
I appreciate what you did here, answered it right Smiling Face with Open Mouth
fxinternational
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Brilliant ツ
Jadakiss
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2 hours ago
Thanks
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