Question: Janice is a 4 5 % owner of Java. Java has $ 3 0 0 , 0 0 0 of ordinary income, $ 1 2

Janice is a 45% owner of Java. Java has $300,000 of ordinary income, $120,000 of long- term capital gain and $60,000 of charitable contributions. How do Janice and Java treat these items if Java is a C Corporation? If Java is a partnership?

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