What income does it report on mary''s schedule k-1

Reference no: EM13539520

Mary purchased 40 percent of an S corporation on February 28 of the current year and sells a 20 percent interest on November 30. If the corporation reports $10,000 of income for the year, what income does it report on Mary's Schedule K-1.

a. $7,534

b. $3,014

c. $4,000

d. $3,184

e. None of the above

Reference no: EM13539520

Questions Cloud

Calculate the absolute pressure at an ocean depth : Calculate the absolute pressure at an ocean depth of 750 m. Assume the density of sea water is 1020 kg/m3 and that the air above exerts a pressure of 101.3 kPa.

Interference effects violate conservation of energy and why : Since it is a known fact that light transmits energy and that bright lights transmits more energy than dim light, do interference effects violate conservation of energy and why?

Determine the new lowest harmonic frequency in the pipe : An organ pipe is open at one end and closed at the other. The pipe is 1.5 m long. Assume the speed of sound in the pipe is 340 m/s. The lowest harmonic frequency for this pipe is ________Hz.

Calculate the average power output on the way up : During a workout, the football players at State U. ran up the stadium stairs in 60 s. The stairs are 150 m long and inclined at an angle of 30°. estimate the average power output on the way up

What income does it report on mary''s schedule k-1 : What income does it report on Mary's Schedule K-1.

Discuss your position on babies first bill : Discuss your position on whether the proposed "Babies First" bill is ethically justified in its attempt to protect the interests of an un-born fetus by restricting and mandating the mother's delivery options

Determine the tensions in the string on both sides of pulley : A block of mass m1 = 1.75 kg and a block of mass m2 = 5.90 kg are connected by a massless string over a pulley in the shape of a solid disk having radius R = 0.250 m and mass M = 10.0 kg. These blocks are allowed to move on a fixed block-wedge of ..

How do determine the firms market value : How do I determine the firms market value with this information? Debt = $7,000, Common stock ($1 par) = 458 and Retained earnings = $17,000. The firms bonds are currently selling for $996 and the firms stock is currently selling for $55. Tax..

Estimate the distance the block slides before coming to rest : An 8.57-kg block slides with an initial speed of 1.64 m/s up a ramp inclined at an angle of 27.3° with the horizontal. Use energy conservation to find the distance the block slides before coming to rest

User Account

All Pages