Marty owns 30% of the stock of Myron Corporation. Myron reports taxable income of $100,000 and pays $80,000 in dividends to shareholders. What is Marty's income from Myron Corporation?

Question

Quizplus · Accepted Answer

Marty's income from Myron Corporation includes his share of the dividends paid. Since he owns 30% of the stock, he receives 30% of the $80,000 in dividends, which amounts to $24,000.

Marty Owns 30% of the Stock of Myron Corporation