Required information Problem 15-46 (LO 15-3) (Algo) [The following information applies to the questions displayed below] Mason (single) is a 50 percent shareholder in Angels Corporation (an S Corporation). Mason receives a $189.500 salary working full time for Angels Corporation. Angels Corporation reported $438,000 of taxable business income for the year (2022). Before considering his business income allocation from Angels and the self-employment tax deduction (if any), Mason's adjusted gross income is $189.500 (all salary from Angels Corporation). Mason claims $69,000 in itemized deductions. Answer the following questions for Mason. Note: Leave no answer blank. Enter zero if applicable. Problem 15-46 Part c (Algo)
Required information Problem 15-46 (LO 15-3) (Algo) [The following information applies to the questions displayed below] Mason (single) is a 50 percent shareholder in Angels Corporation (an S Corporation). Mason receives a $189.500 salary working full time for Angels Corporation. Angels Corporation reported $438,000 of taxable business income for the year (2022). Before considering his business income allocation from Angels and the self-employment tax deduction (if any), Mason's adjusted gross income is $189.500 (all salary from Angels Corporation). Mason claims $69,000 in itemized deductions. Answer the following questions for Mason. Note: Leave no answer blank. Enter zero if applicable. Problem 15-46 Part c (Algo)
Chapter3: Corporations: Introduction And Operating Rules
Section: Chapter Questions
Problem 35P
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