Explain the differences between the way the following items are reported by a C corporation and an S corporation a Ordinary income or loss b Dividend income c Capital gains and losses d Tax exempt interest income e Charitable contributions f Nonliquidating property distributions g Fringe benefits p...

a S corporation shareholders report ordinary income or loss as well as separately stated items on their individual returns A C corporation reports ordinary income or loss in its taxable income b Divid ...

Explain the differences between the way the following items are reported by a C corporation and an

Question:

Explain the differences between the way the following items are reported by a C and an S Ordinary income or loss
b. income
c. Capital gains and losses
d. Tax-exempt interest income
e. Charitable contributions
f. Nonliquidating property distributions
g. Fringe benefits paid to a shareholder-employee Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may... Dividend
A dividend is a distribution of a portion of company’s earnings, decided and managed by the company’s board of directors, and paid to the shareholders. Dividends are given on the shares. It is a token reward paid to the shareholders for their...