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Author Question: Small Corporation had the following capital gains and losses during the current year: Taxable ... (Read 80 times)

RODY.ELKHALIL

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Question 1

Oak Corporation manufactures widgets in its factory in Houma, Louisiana.  Its taxable income (before the production deduction) is $200,000 and its net income from qualified production activities is $180,000. What is the amount of Oak Corporation's qualified production activities deduction?

Question 2

Small Corporation had the following capital gains and losses during the current year:


Taxable income, exclusive of the capital gains and losses above, is $68,000.

a. How should the capital gains and losses be treated for the current year?
b. What is the taxable income for the current year taking into consideration the capital gains and losses?


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Marked as best answer by RODY.ELKHALIL on Sep 13, 2020

bitingbit

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RODY.ELKHALIL

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Reply 2 on: Sep 13, 2020
YES! Correct, THANKS for helping me on my review


Zebsrer

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Reply 3 on: Yesterday
Gracias!

 

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