In 2017, B Corporation: (i) had $100,000 income from operations, (ii) Received a $10,000 dividend from X Corporation of which B owned less than 1%, and (iii) contributed $15,000 cash to a qualified charitable organization. In 2018, B Corporation: (i) had $100,000 of income from operations and sold its X stock (which it had owned for 10 years) for a net capital gain of $20,000. What is B taxable income in 2018?

Answer rating: 100% (QA)

Taxable Income for year 2018 a ... View the full answer