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Title: Cactus Corporation, an S Corporation, had accumulated earnings and profits of $100,000 at the ... Post by: safezone on Feb 15, 2017 Cactus Corporation, an S Corporation, had accumulated earnings and profits of $100,000 at the beginning of 2008. Tex and Shirley each own 50% of the stock. Cactus does not make any distributions during 2008, but had $200,000 of ordinary income. In 2009, ordinary income was $100,000 and distributions were $100,000. What is Tex's ordinary income for 2008?
A) $0 B) $50,000 C) $100,000 D) $200,000 Title: Re: Cactus Corporation, an S Corporation, had accumulated earnings and profits of $100,000 at the ... Post by: Rimoun on Feb 15, 2017 Content hidden
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