Which of the following would likely be a constructive dividend?
A, B, D, and E
Susan's salary is $44,000 and she received dividends of $600. She received a statement
from SJ partnership indicating that her share of the partnersh
Jim and Pat are married and file jointly. In 2015, Jim earned a salary of $46,000.
Pat is self-employed. Her gross business income was $49,000 and her business
expenses totaled $24,000. Each contributed $5,000 to a deductible IRA. Their
Personal property tax:
Car: $20,000 x 2% = $400
3,000 lbs , $10/100 lbs = $300
Total = $700
Deductible based on value: $400
House: Owned house for 104 days. (104/365)*$1850=$527
State taxes: $2000
Total: $2000 + $400 + $527 = $2927
Should be filed
Assignment- Ch 13
Land on which a factory is located. Section 1231
Equipment used in a factory. Sections 1231 and 1245.
Raw materials inventory. None
Patent purchased to allow use of manufactured process: Sections 1