Hansen Corporation, an S Corporation. (not a manufacturer) reports the following items of income and expense...

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Hansen Corporation, an S Corporation. (not a manufacturer) reports the following items of income and expense for 2019: Gross Revenue $900,000 Dividends Received from 30% owned corp 200,000 LTCG 30,000 STCL 12,000 City of Lee's Summit Bond Interest 10,000 375,000 325,000 Cost of Goods Sold Administrative Expenses Charitable Contributions 60,000 If Dwight, an individual, owns 30% of Hansen S-Corp for all of 2019, how much ordinary income would Dwight report, as a result of Hansen's activities? 60,000 270,000 42,000 64.860 Hansen Corporation, an S Corporation. (not a manufacturer) reports the following items of income and expense for 2019: Gross Revenue $900,000 Dividends Received from 30% owned corp 200,000 LTCG 30,000 STCL 12,000 City of Lee's Summit Bond Interest 10,000 375,000 325,000 Cost of Goods Sold Administrative Expenses Charitable Contributions 60,000 If Dwight, an individual, owns 30% of Hansen S-Corp for all of 2019, how much ordinary income would Dwight report, as a result of Hansen's activities? 60,000 270,000 42,000 64.860

Answer rating: 100% (QA)

Ordinary Income Hansen Corp Gross Revenue Cost of goods sold Administrative Expenses Cha... View the full answer