Ted owns 20% of Genco (a C corporation)that had taxable income of $100,000 and paid a total of $50,000 in dividends to its shareholders.Ted also owns a 10% of Subco (an S corporation)that had $100,000 of taxable income and distributed a total of $60,000 to its shareholders.How much must Ted include in his gross income as a result of being a shareholder in these two corporations?
A)$16,000
B)$20,000
C)$26,000
D)$30,000

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The Answer of Ted owns 20% of Genco (a C corporation)that had taxable income of $100,000 and paid a total of $50,000 in dividends to its shareholders.Ted also owns a 10% of Subco (an S corporation)that had $100,000 of taxable income and distributed a total of $60,000 to its shareholders.How much must Ted include in his gross income as a result of being a shareholder in these two corporations?
A)$16,000
B)$20,000
C)$26,000
D)$30,000

Ted Owns 20% of Genco (A C Corporation)that Had Taxable