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Title: Payment Corporation has accumulated E&P of $19,000 and current E&P of $28,000. During the ... Post by: safezone on Feb 14, 2017 Payment Corporation has accumulated E&P of $19,000 and current E&P of $28,000. During the year, the corporation makes the following distributions to its sole shareholder:
Date Amount Distributed April 1 June 1 August 1 November 1 $20,000 20,000 15,000 5,000 The sole shareholder's basis in her stock is $45,000. What are the tax consequences of the June 1 distribution? Title: Re: Payment Corporation has accumulated E&P of $19,000 and current E&P of $28,000. During ... Post by: Rimoun on Feb 14, 2017 Content hidden
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