Bubba owns Bubba's Big Burritos (BBB) and works there every day as well. BBB is an S corporation and Bubba receives a W-2 and a K-1 every year. This year, Bubba sold the business to another company, Massive Mexican Meals. What type of income does Bubba have as a result of BBB this year?

Answer rating: 100% (QA)

Bubba likely has two types of income from BBB this year due to the sale ... View the full answer