Calculate any passive investment income penally tax


Flint, an S corporation with substantial AEP, reports operating revenues of $410,000, taxable interest income of $390,000, operating expenses of $260,000, and deductions attributable to the interest of $150,000. Calculate any passive investment income penally tax payable.

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Accounting Basics: Calculate any passive investment income penally tax
Reference No:- TGS0680939

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