Duet CoIs a Calendar Year S Corporation Owned Equally by Patricia

question 9

Multiple Choice

Duet Co.is a calendar year S Corporation owned equally by Patricia and Scott.Duet Co.had taxable income of $40,000 for the current year.Patricia and Scott each received distributions from Duet Co.of $5,000.What is Patricia's taxable income from Duet Co.for the current year?

• A)0
• B)$5,000
• C)$20,000
• D)$25,000

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Definitions:

Honest Feedback

Genuine, truthful, and straightforward reactions or responses provided to others.

Aggressive Temperament

A behavioral disposition characterized by the tendency to be forward, assertive, and often confrontational in interactions and responses.

Detrimental

Causing harm or damage, often in a subtle or gradual way.

Tone

The general character or attitude of a place, piece of writing, situation, etc., often referring to the way something is said rather than what is actually said.