Essay
A and B are equal shareholders in AB, a calendar-year S corporation. On June 30 (181 days into the year), A sells one-half of her stock to C. The corporation reports $30,000 of income for the year.
How much of this income is allocated to A, B, and C?
Correct Answer:
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B: 365/365 X .5 X $30,000 = $1...View Answer
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Correct Answer:
Verified
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