How much income would brenda be allocated

Reference no: EM133612312

Question: The Cain Corporation elected S status for the year, and their ordinary taxable income was $300,000. Cain also had $100,000 of long term capital gains in the first month of the year. Brenda owns 40% of Cain for the last 50 days of the year. How much income would Brenda be allocated?

Reference no: EM133612312

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