Barton, Inc. is a corporation with ordinary net business income of $130,000, dividends of $2,000, a long-term capital gain of $5,000 and a short-term capital loss of $10,000. What is Barton's taxable income based on these figures?
Business net income $130,000 Dividends $2,000 Long-term capital gain $5,000 Short-term capital loss $10,000 $130,000 + $2,000 + $5,000 = $137,000 $137,000 - $10,000 = $127,000
Based on my these figures, Barton’s taxable income is $127,000.
