Arnold owns 35 of the stock of yellow corp. a c corp., Ask an Expert

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Arnold owns 35% of the stock of Yellow Corp. ( a C corp.) which earns $140,000 during 2009. He also owns a 35% interest in Pastel Partnership, which earns $140,000 during 2009. During 2009, Yellow does not pay any dividends, and Pastel does not make any distributions. Discuss Arnold's tax consequences as a result of the above information.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9101265

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