Can you show all the calculations for each problem? Janice is the sole owner of...
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Accounting
Can you show all the calculations for each problem?
Janice is the sole owner of Catbird Company. In the current year, Catbird had operating income of $100,000, a long-term capital gain of $15,000, and a charitable contribution of $5,000. Janice withdrew $70,000 of profit from Catbird. How should Janice report this information on her tax return if Catbird Company is:
a. An LLC?
b. An S corporation?
C. A C corporation?
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