Match the term with the proper response. There may be more than one responses for each term.
a.Includes gross receipts derived from royalties, passive rents, dividends, interest, etc.
b.Penalty tax to stop an S corporation from avoiding the corporate tax on disposition of appreciated property.
c.Cumulative total of undistributed non-separately stated items.
d.Tax-free distribution.
e.Generated under old S corporation rules (pre-1983).
f.Items that affect basis but not AAA go here.
g.Taxed as a dividend.
-Passive investment income tax
Correct Answer:
Verified
Q85: Excess net passive income of an S
Q87: On January 1,Bobby and Alice own equally
Q88: An S corporation is limited to a
Q97: Randall owns 800 shares in Fabrication,Inc.,an S
Q99: Samantha owned 1,000 shares in Evita,Inc.,an S
Q101: The _ and _ limitations apply to
Q103: Match the term with the proper response.
Q105: An S corporation may lose its S
Q106: Match the term with the proper response.
Q107: _ taxation rules do not apply to
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents