TAX FORM/RETURN PREPARATION PROBLEMS C:11-61 Bottle-Up, Inc., was organized on January 8,2013, and made its...
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TAX FORMRETURN PREPARATION PROBLEMS C: BottleUp Inc., was organized on January and made its S election on January The necessary consents to the election were filed in a timely manner. Its address is Hill Street, City, ST BottleUp uses the calendar year as its tax year, the accrual method of accounting, and the firstin firstout FIFO inventory method. BottleUp manufactures ornamental glass bottles. It made no changes to its inventory costing methods this year. It uses the specific identification method for bad debts for book and tax purposes. Herman Hiebert and Melvin Jones own shares each. Both individuals materially participate in BottleUps single activity. Herman Hiebert is the tax matters person. Financial statements for BottleUp for the current year are shown in Tables C: through C: Prepare a S corporation tax return for BottleUp showing yourself as the paid preparer
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