subject
Business, 27.11.2019 01:31 cherbears

Kinney, inc., an electing s corporation, holds $5,000 of aep and $9,000 in aaa at the beginning of the calendar tax year. kinney has two shareholders, eric and maria, each of whom owns 500 shares of kinney's stock. kinney's taxable income is $6,000 for the year. kinney distributes $6,000 to each shareholder on february 1, and it distributes another $3,000 to each shareholder on september 1. how is eric taxed on the distribution?

(a) $500 dividend income.
(b) $1,000 dividend income.
(c) $1,500 dividend income.
(d) $3,000 dividend income.
(e) none of the above.

ansver
Answers: 2

Another question on Business

question
Business, 22.06.2019 01:50
Which statement below best describes george waring's approach to solving the problems of water-borne illness? a. waring is going with his "gut," because he believes that instincts and emotions are the best guides for action. b. waring efficiently and thoroughly lays out the case for why the problems are too large and overwhelming to be solved: people should just move out of cities back to their farms. c. waring has gathered the testimonies of people who live in densely populated areas in order to learn how they themselves have solved their problems. d. waring exhibits the industrial age's increased respect for and reliance on science and the scientific method.
Answers: 1
question
Business, 22.06.2019 03:30
He aldermanalderman company has prepared a sales budget of 42 comma 00042,000 finished units for a 3-month period. the company has an inventory of 10 comma 00010,000 units of finished goods on hand at december 31 and has a target finished goods inventory of 11 comma 00011,000 units at the end of the succeeding quarter. it takes 44 gallons of direct materials to make one unit of finished product. the company has inventory of 64 comma 00064,000 gallons of direct materials at december 31 and has a target ending inventory of 53 comma 00053,000 gallons at the end of the succeeding quarter. how many gallons of direct materials should aldermanalderman company purchase during the 3 months ending march 31? select the labels and enter the amounts to calculate the direct materials (gallons) to be purchased.
Answers: 3
question
Business, 22.06.2019 07:30
Which of the following best describes why you need to establish goals for your program?
Answers: 3
question
Business, 22.06.2019 13:40
Determine if the following statements are true or false. an increase in government spending can crowd out private investment. an improvement in the budget balance increases the demand for financial capital. an increase in private consumption may crowd out private investment. lower interest rates can lead to private investment being crowded out. a trade balance in sur+ increases the supply of financial capital. if private savings is equal to private investment, then there is neither a budget sur+ nor a budget deficit.
Answers: 1
You know the right answer?
Kinney, inc., an electing s corporation, holds $5,000 of aep and $9,000 in aaa at the beginning of t...
Questions
question
Mathematics, 20.09.2021 14:40
question
Biology, 20.09.2021 14:40
question
Social Studies, 20.09.2021 14:40
Questions on the website: 13722365