Business, 20.12.2019 02:31 heyrosaphoto2610
Rachel is the sole member of an llc, and jordan is the sole shareholder of a c corporation. both businesses were started in the current year, and each business has a long-term capital gain of $10,000 for the year. neither business made any distributions during the year. with respect to this information, which of the following statements is correct?
a. the c corporation receives a preferential tax rate on the ltcg of $10,000.
b. rachel must report $10,000 of ltcg on her tax return.
c. the llc must pay corporate tax on taxable income of $10,000.
d. jordan must report $10,000 of ltcg on his tax return.
e. none of these choices are correct.
Answers: 3
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Rachel is the sole member of an llc, and jordan is the sole shareholder of a c corporation. both bus...
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