Bjorn owns a 60% interest in an s corporation that earned $150,000 in the current year. he also owns 60% of the stock in a c corporation that earned $150,000 during the year. the s corporation distributed $30,000 to bjorn and the c corporation paid dividends of $30,000 to bjorn. how much income must bjorn report from these businesses?

From S corporation = $150,000 × 60% = $90,000

From C corporation = $30,000

Explanation:

In the question, it is given that the Bjorn has 60% interest in S corporation which earned the income for $150,000 and the S corporation has distributed the amount for $30,000

So, the Bjorn would reported

From S corporation = $150,000 × 60% = $90,000

From C corporation = $30,000

These two corporations income would be reported by Bjorn

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