Debbie is a 25 owner in mcmotors inc an s corporation, Finance Basics

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Debbie is a 25 owner in mcmotors inc an s corporation

Question: Debbie is a 25% owner in McMotors Inc., an S corporation. McMotors Inc. had the following results from operations in 2016: Ordinary business income of $60,000, charitable contributions of $4,000, and an IRC § 179 deduction of $6,000. Debbie received a salary from McMotors of $125,000 in 2016. How much income will result on Debbie's Schedule E of her Form 1040?

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Finance Basics: Debbie is a 25 owner in mcmotors inc an s corporation

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