Solved: What amount from miyasyke should be included in each, Accounting Basics

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What amount from miyasyke should be included in each

Miyasyke, Inc., a calendar year S corporation, has five equal shareholders at the end of the tax year. Miyasyke had $75,000 of taxable income. Miyasyke made distributions to its shareholders of $32,000 each, for a total of $160,000. Each shareholder's basis in the S corporation is $100,000 at the beginning of the tax year. What amount from Miyasyke should be included in each shareholder's gross income?

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Accounting Basics: What amount from miyasyke should be included in each

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