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MrVernon Owns Stock in Two S Corporations,Able Corporation and Benson

Question 84

Multiple Choice

Mr.Vernon owns stock in two S corporations,Able Corporation and Benson Inc.This year,Mr.Vernon had the following income and loss items. Mr.Vernon owns stock in two S corporations,Able Corporation and Benson Inc.This year,Mr.Vernon had the following income and loss items. If Vernon materially participates in Able's business but not in Benson's business,compute his AGI. A) $94,000 B) $74,000 C) $61,000 D) $41,000 If Vernon materially participates in Able's business but not in Benson's business,compute his AGI.


A) $94,000
B) $74,000
C) $61,000
D) $41,000

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