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Business, 15.10.2020 14:01, aprilayleen
Mason (single) is a 50 percent shareholder in Angels Corp. (an S Corporation). Mason receives a $180,000 salary working full time for Angels Corp. Angels Corp. reported $400,000 of taxable business income for the year (2020). Before considering his business income allocation from Angels and the self-employment tax deduction (if any), Mason’s adjusted gross income is $180,000 (all salary from Angels Corp.).
Required:
What is Mason’s net investment income tax liability (assume no investment expenses)?
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Answers: 3
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Mason (single) is a 50 percent shareholder in Angels Corp. (an S Corporation). Mason receives a $180...
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