A owned 40 percent of x co an s corporation for 200 days


A owned 40 percent of X co. (an S corporation) for 200 days during 2009. A owned 20 percent of X co. for the remaining 165 days in 2009. X co. is a calendar year taxpayer and in 2009 it had $365,000 of capital gains. A's share of X co.'s capital gains for 2009 is:

a. $73,000;

b. $126,000;

c. $113,000;

d. None of the above 

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Accounting Basics: A owned 40 percent of x co an s corporation for 200 days
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