QUESTION 23During the year of 2021, Bradford Corporation, an S Corporation has a recognized Built-in Gain of $80,000 and Taxable Income if it were a Regular (9Corporation of $95,000. The Built-in Gains Tax (Section 1374 of the Internal Revenue Code) of Bradford Corporation for the year of 2021 is:O $33,250.$28,000.O $61,250.• $16,800.

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QUESTION 23 During the year of 2021, Bradford Corporation, an S Corporation has a recognized Built-in Gain of $80,000 and Taxable Income if t were a Regular () Corporation of $95,000. The Built-in Gains Tax (Section 1374 of the Internal Revenue Code) of Bradford Corporation for the year of 2021 is O $33,250. O $28,000. O $61,250. • $16,800.

QUESTION 23 During the year of 2021, Bradford Corporation, an S Corporation has a recognized Built-in Gain of $80,000 and Taxable Income if t were a Regular () Corporation of $95,000. The Built-in Gains Tax (Section 1374 of the Internal Revenue Code) of Bradford Corporation for the year of 2021 is O $33,250. O $28,000. O $61,250. • $16,800.

SWFT Essntl Tax Individ/Bus Entities 2020

23rd Edition

ISBN:9780357391266

Author:Nellen

Publisher:Nellen

Chapter16: Multijurisdictional Taxation

Section: Chapter Questions

Problem 1BCRQ

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QUESTION 23 During the year of 2023, Bradford Corporation, an S Corporation has a recognized Built-In Gain of $80,000 and Taxable income if it were a Regular (C). Corporation of $95,000. The Built-In Gains Tax (Section 1374 of the Internal Revenue Code) of Bradford Corporation for the year of 2023 is: $33,250 $16,800. $28,000. $61,250.
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