ANSWER

Dashboard X + X - C O B https://jainexams.jgianveshana.com/mcq_exam_new.aspx?Subject=21VMC35404-INTERNATIONAL TAXATION - III e E JGi JAIN 221VMCRO0177 BALWINDER SINGH DANG SEMED TO BE UNIVERSITY Subject : 21VMC35404-INTERNATIONAL TAXATION - III Exam Start Time : 15/11/2024 10:21 AM Duration : 200 Minutes Show Palette 7. Carson owned 40% of the outstanding stock of a C corporation. During a tax year, the corporation reported $400,000 in taxable income and distributed a total of $70,000 in cash COMPLETE dividends to its shareholders. Carson accurately reported $28,000 in gross income on Carson's individual tax return. If the corporation had been an S corporation and the distributions to the owners had been proportionate, how much income would Carson have reported on Carson's individual return? O A. $28,000 O B. $132,000 O C. $160,000 O D. $188,000 2024 @ JGIAnveshana. Design & Develop by JGIAnveshana Type here to search Fi 10:26 ^ 9 () ENG 15-11-2024 56