Power Corporation reports the following results: $\begin{array}{lr}
\text { Service income (not passive income) } & \$ 40,000 \
\text { Dividend income } & 30,000 \
\text { Interest income } & 60,000 \
\text { Passive income- related expenses } & 20,000 \
\text { Other expenses } & 50,000
\end{array}$ At the end of the year, Power's Subchapter C E&P is $50,000. What is Power Corporation's excess net passive inc and its excess net passive income tax for the year?

Question

Quizplus · Accepted Answer

The Answer of Power Corporation reports the following results: $\begin{array}{lr}
\text { Service income (not passive income) } & \$ 40,000 \
\text { Dividend income } & 30,000 \
\text { Interest income } & 60,000 \
\text { Passive income- related expenses } & 20,000 \
\text { Other expenses } & 50,000
\end{array}$ At the end of the year, Power's Subchapter C E&P is $50,000. What is Power Corporation's excess net passive inc and its excess net passive income tax for the year?

Power Corporation Reports the Following Results At the End of the Year, Power's Subchapter C E&P