Wayne received dividend cheques from his brother's business totaling $32 but did not receive a T5 slip. Wayne's brother's issues eligible dividends. What is the taxable amount of dividends Wayne must include on his Federal Worksheet?

Subject:- accounting

Main Content Bob and Joan incorporate their partnership and elect to be taxed as an S Corporation. At the time of incorporation, the partnership owneu contributed securities with a basis of $10,000 and a fair market value of $15,000. Two years later the S Corporation sold the securities for $18,000. Which of the following statements about the tax effects of these facts is false? The total stock basis of the shareholders is increased by $8,000 as a result of the securities sale. The shareholders are taxed on $8,000 of income as a result of the sale The S corporation is subject to an entity level built-in gains tax on $5,000 as a result of this sale none of the above

Under Emma's will, Addison inherits property that generates an estate tax of $1,886,600. Addison dies 4 years later and the property triggers an estate tax of $1,603,610. Click to access Exhibit 18.2, Credit for Tax on Prior Transfers . What is the credit for estate tax on prior transfers claimed by Addison's estate? Addison's estate is entitled to a credit of $fill in the blank 1.