Amos is the sole shareholder of an S corporation that earned $100,000 in 2010 and distributed $25,000 to Amos.Amos must recognize $25,000 as income from the S corporation in 2010.

Question

Quizplus · Accepted Answer

Amos must recognize the entire $100,000 as income from the S corporation in 2010, not just the $25,000 distributed, because S corporation income is passed through to shareholders regardless of distributions.

Amos Is the Sole Shareholder of an S Corporation That