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iris [78.8K]
3 years ago
11

Clampett, Incorporated, has been an S corporation since its inception. On July 15, 2021, Clampett, Incorporated, distributed $42

,500 to J.D. His basis in his Clampett, Incorporated, stock on January 1, 2021, was $36,000. For 2021, J.D. was allocated $11,800 of ordinary income from Clampett, Incorporated, and no separately stated items. How much capital gain does J.D. recognize related to Clampett, Incorporated, in 2021
Business
1 answer:
Gre4nikov [31]3 years ago
4 0

Answer:

See bellw

Explanation:

Income of J.D related to Clampett = Ordinary income + Capital gain

Given that

Basis distribution = $42,500

Basis stock = $36,000

Ordinary = $11,800

But Capital gain = Basis distribution - (Basis stock + Ordinary income

= $42,500 - ($36,000 + $11,800)

= $42,500 - $47,800

= - $5,300

Therefore, J.D income related to Clampett

= Ordinary income + Capital gain

= $11,800 - $5,300

= $6,500

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Answer:

a) nothing can be done

b)70

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It becomes particularly urgent for a company to consider diversification when there are needs to avoid putting all of its "eggs"
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carmax has developed an organization focused on delivering value to its customers. what were the drawbacks of the way carmax was
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5 0
1 year ago
A firm has a stock price of $68.00 per share. The firm's earnings are $85 million, and the firm has 20 million shares outstandin
erik [133]

Answer:

2.1

Explanation:

A firm has a stock price of $68.00 pet share

The firm's earning are $85,000,000

The firm has $20,000,000 outstanding

They have an ROE of 11% and a Plow back ratio of 70%

The first step is to calculate the EPS

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zheka24 [161]

Answer:

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