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Butter had net taxable income of 80000 and made a 15000

Question - Bread Corporation is a C corporation with earnings of $100,000. It paid $20,000 in dividends to its sole shareholder, Gerald. Gerald also owns !00% of Butter, an S corporation. Butter had net taxable income of $80,000 and made a $15,000 distribution to Gerald. What income will Gerald report from Bread and Butter's activities?

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Accounting Basics: Butter had net taxable income of 80000 and made a 15000

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Accounting Basics: Butter had net taxable income of 80000 and made a 15000

Reference No:- TGS02593755

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