Compute Dion share of the S corporation items

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Problem - Dion, an S shareholder, owned 20% of MeadowBrook's stock for 292 days and 25% for the remaining 73 days in the year. Using the per-day allocation method, compute Dion's share of the following S corporation items.

 

Schedule K Totals

Dion's Schedule K-1 Totals

Ordinary income

$60,000


Tax-exempt interest

1,000


Charitable contributions

3,400


Reference no: EM132648522

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