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29 a.Tobias recognizes $90,000 of ordinary income. The corporation has a $90,000 deduction, whichis passed through to Tobias. His stock basis is reduced to zero, and he has a $10,000loss carryover. b. Tobias recognizes $90,000 of dividend income, with no deduction pass-through, and has an $80,000 remaining stock basis. AEP is reduced to zero.

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Leah PasternakFederal Taxation ACC317Chapter 22: S Corporations Homework Submission25a. Sales$140,0001250 Gain 12,000$152,000 Cost of Goods Sold($42,000)Admin Expenses (15,000)Depreciation Expense (17,000)($74,000)Non-separately computed inc

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