This year, Justin B.'s share of S corporation income includes $5,000 of interest income, $6,500 of dividend income, and $45,000 of net income from the corporation's professional service business activity. 8. Assume that Justin B. materially participates in the S corporation. How much of his S corporation income is potentially subject to the net investment income tax? S-Corporation income subject to net investment income tax

This year, Justin B.'s share of S corporation income includes $5,000 of interest income, $6,500 of dividend income, and $45,000 of net income from the corporation's professional service business activity. 8. Assume that Justin B. materially participates in the S corporation. How much of his S corporation income is potentially subject to the net investment income tax? S-Corporation income subject to net investment income tax

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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