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Tanzania [10]
3 years ago
12

Tiger, Inc., a calendar year S corporation, is owned equally by four shareholders: Ann, Becky, Chris, and David. Tiger owns inve

stment land that was purchased for $160,000 four years ago. On September 14 of the current year when the land is worth $240,000, it is distributed to David. Assuming that David's basis in his S corporation stock is $270,000 on the distribution date. Complete the statement below that outlines what the Federal income tax ramifications are.A capital gain of $ 80,000 is reported at the corporate level, and each shareholder includes a flow-through of $ 20,000 . David's basis in the S corporation becomes $??
Business
1 answer:
erik [133]3 years ago
5 0

Answer: $50,000

Explanation:

To calculate David's basis in S corporation we subtract the value of the land at it's current value from his basis in S corporation stock of $270,000 on the distribution date.

We will then add his portion of the capital gain on the land because all shareholders shared it equally and as such it should increase his basis as it did theirs.

Calculating then we have,

= 270,000 - 240,000 + 20,000

= $50,000

David's basis in the S corporation becomes $50,000.

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lukranit [14]

Answer:

A). determines groups and assigns work activities

Explanation:

Organizing is the function of management that allows development of an organizational structure and allocate the work activities to ensure the completion of objectives.

The managing activity of organizing determines the groups suitable for the objective and the assign task or work on the basis of skills and other parameters to the groups.

Hence, the correct answer is "A)".

4 0
3 years ago
1.which of the following is a type of business structure?
Usimov [2.4K]

Answer:

1.which of the following is a type of business structure?  

a. sole proprietorship  

b. partnership  

c. corporation

<em>d. all of the above  </em>

2.location, utilities, employees and suppliers are all examples of costs.  

<em>true</em> or false  

3.revenue is the money that flows into your company.  

<em>true </em>or false  

4. how can you determine if a company is profitable?

<em>a. by subtracting it’s expensive from its revenue  </em>

b. by looking at its revenue only  

c. by asking the employees  

d. by looking at expenses only  

5. define ethics  

<em>a. The discipline dealing with what is good and bad and with moral duty and obligation  </em>

b. always being good  

c. following the rules  

d. what country you are from  

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true or <em>false</em>

4 0
3 years ago
Joy is taking out a car loan which she will pay back with interest. Which option will require her to pay the lowest amount in in
kherson [118]
The best option for her to choose is the one called Anual Compounding. With the rest of the compoundings she will have to pay more money. With a semi-annual rate she wil have to pay almost 1000 dollars more than in an anual compounding. With a quarterly period she will have to pay almost the same amount as a semi-annual period. Now with a monthly period she would have to pay almost 2000 dollars of interest.

This was not copied from a website or someone else. This was from my last year report.
7 0
3 years ago
So its customers would not be lured by its competitors, wendy's decided to offer a 99-cent value menu to compete with the value
Alexandra [31]
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6 0
3 years ago
You are constructing a test of knowledge of research methods. In doing so, you use your textbook for this class to devise 100 tr
ladessa [460]

Answer:

<em>Face validity</em>

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In certain utterances, face validity is when an evaluation or test happens to be doing what it claims to be doing.

5 0
3 years ago
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