Dion, an S shareholder, owned 20% of Meadow Brook's stock for 292 days and 25% for...

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Dion, an S shareholder, owned 20% of Meadow Brook's stock for 292 days and 25% for the remaining 73 days in the year. Using the required per-day allocation method, compute Dion's share of the following S corporation items. Assume 365 days in a year. Schedule K Totals Dion's Schedule K-1 Totals Ordinary income Tax-exempt interest $80,000 800 $ Charitable contributions 4,000 Dion, an S shareholder, owned 20% of Meadow Brook's stock for 292 days and 25% for the remaining 73 days in the year. Using the required per-day allocation method, compute Dion's share of the following S corporation items. Assume 365 days in a year. Schedule K Totals Dion's Schedule K-1 Totals Ordinary income Tax-exempt interest $80,000 800 $ Charitable contributions 4,000

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To compute Dions share of the S corporation items using the required perday allocation method we nee... View the full answer