Level 7

Investors & landlords

Yes that should be correct.

See Pub 542 for more information and also the instructions for F1120


Going through F1120, capital gain is included in the total income section.

Deductions are listed below.  In your example, barring any "limited" deductions, taxable income should be $75K.

**Disclaimer: Effort has been made to offer correct information; but due to the discussion forum limitations, the poster disclaims any legal responsibility for the accuracy of the poster's response**

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