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Gofer Corporation, an S Corporation, Is Owned Equally by Mahmoud

Question 48

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Gofer Corporation, an S corporation, is owned equally by Mahmoud and Kwame. The corporation had long-term capital gains of $100,000 and ordinary income of $90,000 for the current year and made no distributions. What is the amount of ordinary income from S corporation activities that Mahmoud must report?

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$90,000 × ...

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