Question

Janice is the sole owner of Catbird Company. In the current year, Catbird had operating income of $100,000, a long-term capital gain of $15,000, and a charitable contribution of $5,000. Janice withdrew $70,000 of profit from Catbird. How should Janice report this information on her individual tax return if Catbird Company is:
a. An LLC?
b. An S corporation?
c. A C corporation?


$1.99
Sales0
Views319
Comments0
  • CreatedMay 25, 2015
  • Files Included
Post your question
5000