What amount of income including its character will

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What amount of income, including its character, will Paul recognize on the $20,000 distribution he receives on December 1?
What amount of tax does GTE pay on the $1,000 dividend it received?
c. Assume James and Paul formed GTE as a C corporation. Complete GTE’s Form 1120, page 1 (note that you should use the 2015 tax form). Compute the tax basis of Paul’s stock in GTE at the end of 2016. What amount of Paul’s income from GTE is subject to FICA or self-employment taxes? What amount of income, including its character, will Paul recognize on the $20,000 distribution he receives on December 1? What amount of tax does GTE pay on the $1,000 dividend it received? GTE’s Form 1120, page 1 is as follows:
Compute the tax basis of Paul’s stock in GTE at the end of 2016.
What amount of Paul’s income from GTE is subject to FICA or self-employment taxes?
What amount of income, including its character, will Paul recognize on the $20,000 distribution he receives on December 1?
What amount of tax does GTE pay on the $1,000 dividend it received?

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