Tom and Shawn Own All of the Outstanding Stock of Brady

question 72

Multiple Choice

Tom and Shawn own all of the outstanding stock of Brady Corporation (a retail store operated as a C corporation) .This year,Brady generates taxable income of $20,000 from active business operations,and also reports investment interest income of $22,000 and losses of $28,000 from a passive activity.As a result,Brady Corporation reports

• A)net income of $42,000.
• B)interest income of $22,000 and a passive loss carryover of $8,000.
• C)business income of $20,000 and a passive loss carryover of $6,000.
• D)business income of $20,000,interest income of $22,000,and a passive loss carryover of $28,000.

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Definitions:

Fiber Intake

The amount of dietary fiber consumed, which is important for digestive health and can impact various bodily functions and disease risks.

Fluid Per Day

The recommended quantity of fluid intake for an individual within a 24-hour period to maintain health and proper hydration.

Primary Source

A document, artifact, or other piece of information that was created or exists at the time under study, offering direct evidence about a historical topic.

Carbohydrates

Organic compounds consisting of carbon, hydrogen, and oxygen, which are an important source of energy for the body.