and Wonderland Resorts, LLP each issued Brian a K-1 for Year 4 (detail provided below). Brian is also a 10% limited partner in Wonderland Resorts, a limited liability partnership, which paid him no distributions in Year 4 and in which he had a $300,000 basis at year-end Year 3. ![]() In addition, since Year 1 Brian has owned a 50% interest in Technology Plus, Inc., an S Corporation from which he was paid a salary and received distributions in Year 4 (each paid according to the ratio of ownership). ![]() Brandise is not considered to be a personal service corporation or a personal holding company. In Year 4, he earned wages of $200,000 from Brandise Corporation, a newly-formed C Corporation of which he is the sole shareholder and only employee. ![]() Brian Cartwright is a single taxpayer who itemizes deductions and has no dependents.
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