Zinco corp was a calendar year S corp. Zinco's status terminated on April 1 year 6 when Case corp became a shareholder. During year 6 ( 365 day calendar year) Zinco had nonseparately computed income of $310,250. If not election was made by Zinco, what amount of the income, if any was allocated to the S short year for year 6?

Zinco corp was a calendar year S corp. Zinco's status terminated on April 1 year 6 when Case corp became a shareholder. During year 6 ( 365 day calendar year) Zinco had nonseparately computed income of $310,250. If not election was made by Zinco, what amount of the income, if any was allocated to the S short year for year 6?

SWFT Comprehensive Vol 2020

43rd Edition

ISBN:9780357391723

Author:Maloney

Publisher:Maloney

Chapter22: S Corporations

Section: Chapter Questions

Problem 5BCRQ

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Subject : Accounting
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