Chuck Corporation reports the following results for this year:
$\begin{array}{ll}
\text { Service (nonpassive) income } & \$ 17,500 \
\text { Dividend income } & 18,500 \
\text { Interest income } & 14,000 \
\text { Passive income-related expenses } & 5,000 \
\text { Other expenses } & 12,500
\end{array}$ At the end of this year, Chuck's E&P for its C corporation tax years amount to $30,000. Compute Chuck Corporation's excess net passive income.

Question

Chuck Corporation reports the following results for this year:
 $\begin{array}{ll}
\text { Service (nonpassive) income } & \$ 17,500 \
\text { Dividend income } & 18,500 \
\text { Interest income } & 14,000 \
\text { Passive income-related expenses } & 5,000 \
\text { Other expenses } & 12,500
\end{array}$ At the end of this year, Chuck's E&P for its C corporation tax years amount to $30,000. Compute Chuck Corporation's excess net passive income.

Quizplus · Accepted Answer

The Answer of Chuck Corporation reports the following results for this year:
 $\begin{array}{ll}
\text { Service (nonpassive) income } & \$ 17,500 \
\text { Dividend income } & 18,500 \
\text { Interest income } & 14,000 \
\text { Passive income-related expenses } & 5,000 \
\text { Other expenses } & 12,500
\end{array}$ At the end of this year, Chuck's E&P for its C corporation tax years amount to $30,000. Compute Chuck Corporation's excess net passive income.

Chuck Corporation Reports the Following Results for This Year At the End of This Year, Chuck's E&P for Its