Ms.G obtained a 40 percent interest in business H on January 1 of the current year for $90,000.At the end of the year, H had the following information: If H is a partnership or an S corporation, what is G's A.G.I., assuming she has no other income or deductions for the year?
A)$4,400
B)$31,200
C)$32,000
D)$47,600

Question

Ms.G obtained a 40 percent interest in business H on January 1 of the current year for $90,000.At the end of the year, H had the following information:  If H is a partnership or an S corporation, what is G's A.G.I., assuming she has no other income or deductions for the year?
A)$4,400 
B)$31,200 
C)$32,000 
D)$47,600

Quizplus · Accepted Answer

The Answer of Ms.G obtained a 40 percent interest in business H on January 1 of the current year for $90,000.At the end of the year, H had the following information:  If H is a partnership or an S corporation, what is G's A.G.I., assuming she has no other income or deductions for the year?
A)$4,400 
B)$31,200 
C)$32,000 
D)$47,600

MsG Obtained a 40 Percent Interest in Business H on January