Which, if any, of the following statements is (are) correct?
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Which, if any, of the following statements is (are) correct?

1. Excess distributed income over reasonable

compensation is treated as self-employment income,

     in an LLC, for an LLC manager.

2. Excess distributed income over reasonable compensation is treated as dividend income in an S

     corporation.

Select one:

a. 1 only.

b. 2 only.

c. Both 1 and 2.

d. Neither 1 nor 2.

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