Business, 05.11.2019 04:31 csorensen

In 2019, una corporation has $500,000 of adjusted taxable income, $22,000 of business interest income, and $120,000 of business interest expense. it has annual average gross receipts of more than $25,000,000 over the prior three taxable years. a. what is una’s interest expense deduction? b. how much interest expense can be deducted if una’s adjusted taxable income is $300,000?

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In 2019, una corporation has $500,000 of adjusted taxable income, $22,000 of business interest incom...