archa5
Level 2
03-24-2021
06:15 PM
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The counties are reporting the interest income when the certificate is redeemed.
Is it enough for the corporation to show the income which is received as the corporate profit or it is necessary to show the purchase price of the certificate and the money received back from the county. The difference will be the interest reported by the county with one small problem that we will have as a difference between gross receipt and cost of goods sold and the county report it as a blank interest.
Which way to go?