adreyan6221
15.10.2019 •
Business
John budd is the sole stockholder of ral corp., an accrual basis taxpayer engaged in wholesaling operations. ral’s retained earnings at january 1, year 1, amounted to $1,000,000. for the year ended december 31, year 1, ral’s book income, before federal income tax, was $300,000. included in the computation of this $300,000 were the following: keyman insurance premiums paid on budd’s life (ral is the beneficiary of this policy) $3,000 group term insurance premiums paid on $10,000 life insurance policies for each of ral’s four employees (the employees’ spouses are the beneficiaries) 4,000 contribution to a recognized, qualified charity (this contribution was authorized by ral’s board of directors in december year 1, to be paid on january 31, year 2) 75,000 what amount should ral deduct for keyman and group life insurance premiums in computing taxable income for year 1?
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Ответ:
brainliest answer
Explanation:
the master promissory note is document that explains your rights and responsibilities as a federal student loan borrower.