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Business, 22.01.2020 22:31 nikki8240

In the current year, riflebird company had operating income of $220,000, operating expenses of $175,000, and a long-term capital loss of $10,000. how do riflebird company and roger, the sole owner of riflebird, report this information on their respective federal income tax returns for the current year under the following assumptions? note: if an amount is zero, enter "0".

a. riflebird company is a proprietorship (roger did not make any withdrawals from the business). roger reports $ net operating profit and $ long-term capital loss on his tax return.

b. riflebird company is a c corporation (no dividends were paid during the year). roger reports $ net operating profit and $ long-term capital loss on his tax return.

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