Solution-What amount of the income was allocated

What amount of the income was allocated

Reference no: EM132663602

Problem - Zinco Corp. was a calendar year S corporation. Zinco's S status terminated on April 1, year 6, when Case Corp. became a shareholder. During year 6 (365-day calendar year), Zinco had nonseparately computed income of $310,250. If no election was made by Zinco, what amount of the income, if any, was allocated to the S short year for year 6?

a. $233,750

b. $155,125

c. $76,500

d. $0

Reference no: EM132663602

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What amount of the income was allocated

Reference no: EM132663602

Reference no: EM132663602

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