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An s corporation with aep in 2013 records operating revenue

Question -

a) An S corporation with AEP in 2013 records operating revenue of $420,000, taxable interest income of $260,000, and deductions attributable to the interest of $150,000. What is the passive income penalty tax payable, if any?

b) What possible advice would you give the owner of the S corporation before 2014?

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Accounting Basics: An s corporation with aep in 2013 records operating revenue

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Accounting Basics: An s corporation with aep in 2013 records operating revenue

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