Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. violet, inc., has a 2019 $80,000 long-term capital

Violet, Inc., has a 2019 $80,000 long-term capital gain included in its $285,000 taxable income....

80.2K

Verified Solution

Question

Accounting

Violet, Inc., has a 2019 $80,000 long-term capital gain included in its $285,000 taxable income. Which of the following is correct?

a.Violet will benefit from an alternative tax on net capital gains computation.

b.violets regular tax on taxable income is computed because there is no corporate alternative tax on net capital gains approach.

d.Violets $80,000 net capital gain is not taxable

d.Violets regular tax on taxable income will be greater than its tax using an alternative tax on net capital gain approach

e.None of these.

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students