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D is the sole shareholder of a corporation and e owns a

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D is the sole shareholder of a corporation, and E owns a sole proprietorship. Both businesses, which were started in the current year, each make a profit of $1,600 this year. Each owner then withdraws $1,000 from his business during the year. How much income does the sole proprietorship have to report on its return? How about the corporation? How much dividend income does D recognize?

Reference no: EM13597535

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