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Mr Vernon Owns Stock in Two S Corporations, Able Corporation

Question 94

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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