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polet [3.4K]
3 years ago
8

The following information for "2019" pertains to Bartley Corporation: Capital contributions by shareholders $50,000 Realized los

s on sale of treasury stock (10,500) Income from rental property in a sinking fund (in the hands of a trustee) 5,500 Rent paid directly to a bond holder on a lease of corporate property 8,000 What is the amount of gross income to Bartley Corporation for 2019?
Business
1 answer:
Nadusha1986 [10]3 years ago
7 0

Answer:

$13,500

Explanation:

Bartley's gross income should include only two items:

  1. income from rent paid directly to a bond holder
  2. income from rental property in a sinking fund

2019 gross income = $8,000 + $5,500 = $13,500

The net gains or losses associated to the selling or rebuying of stocks are considered capital gains or losses, and they are taxed differently than gross income.

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