Coffee Corporation has 2,000 shares of common stock outstand…

Coffee Corporation has 2,000 shares of common stock outstanding. John owns 700 of the shares, John’s grandfather owns 100 shares, John’s father owns 100 shares, John’s ex-wife owns 700 shares, and Redbird Partnership owns 400 shares. John is a 50% partner in Redbird Partnership. How many shares is he deemed to own in Coffee Corporation under the § 318 attribution rules?

Kingbird Corporation (a calendar year C corporation) reports…

Kingbird Corporation (a calendar year C corporation) reports the following income and expenses this year: Income from operations          $200,000Expenses from operations       140,000Dividends received (15% ownership) 15,000 On October 1, Kingbird Corporation made a contribution to a qualified charitable organization of $9,000 in cash (not included in any of the above items). Determine Kingbird’s charitable contribution deduction.