Business, 21.11.2019 20:31, romanbattistelli23

Ellie and linda are equal owners in otter enterprises, a calendar year business. during the current year, otter enterprises has $320,000 of gross income and $210,000 of operating expenses. in addition, otter has a long-term capital gain of $15,000 and makes distributions to ellie and linda of $25,000 each. discuss the impact of this information on the taxable income of otter, ellie, and linda if otter is:

a. a partnership.
b. an s corporation.
c. a c corporation.

Answers: 1

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Ellie and linda are equal owners in otter enterprises, a calendar year business. during the current...