Dion, an S shareholder, owned 20% of MeadowBrook'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. Ordinary income Tax-exempt interest Schedule K Totals Dion's Schedule K-1 Totals $206,000 2,060 300 45,780 X 2,180 X 2.289 X

Dion, an S shareholder, owned 20% of MeadowBrook'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. Ordinary income Tax-exempt interest Schedule K Totals Dion's Schedule K-1 Totals $206,000 2,060 300 45,780 X 2,180 X 2.289 X

SWFT Comprehensive Vol 2020

43rd Edition

ISBN:9780357391723

Author:Maloney

Publisher:Maloney

Chapter19: Corporations: Distributions Not In Complete Liquidation

Section: Chapter Questions

Problem 37P

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