B Inc. has net income of $40,000 for the current year, including dividends received from taxable Canadian corporations of $3,000 and taxable capital gains of $5,000. B Inc. donated $35,000 to a registered charity during the year. B Inc. has net capital losses of $6,000 incurred last year. What is B Inc.'s minimum taxable income for the current year?
B Inc. has net income of $40,000 for the current year, including dividends received from taxable Canadian corporations of $3,000 and taxable capital gains of $5,000. B Inc. donated $35,000 to a registered charity during the year. B Inc. has net capital losses of $6,000 incurred last year. What is B Inc.'s minimum taxable income for the current year?
SWFT Essntl Tax Individ/Bus Entities 2020
23rd Edition
ISBN:9780357391266
Author:Nellen
Publisher:Nellen
Chapter18: Comparative Forms Of Doing Business
Section: Chapter Questions
Problem 16P
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please answer in text form and in proper format answer with must explanation , calculation for each part and steps clearly
Transcribed Image Text:B Inc. has net income of $40,000 for the current year, including dividends received from taxable Canadian corporations of $3,000 and
taxable capital gains of $5,000. B Inc. donated $35,000 to a registered charity during the year. B Inc. has net capital losses of $6,000
incurred last year. What is B Inc.'s minimum taxable income for the current year?
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