Nemo owned 8% of Toy Story's Stock, an S Corp., for 100 days and 14% for the remaining 265 days of the tax year. Toy Story produced an ordinary income of $14,600 for the year. Using the required per-day allocation method, what is Nemo's share of the S Corp. items in the S corporation's ordinary income?  

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To calculate Nemos share of the S Corps ordinary income using the required perday allocation method ... View the full answer