3-16 Operating Rules: Single Cash Distribution. F Inc. made a $50,000 distribution on February 1 of this year to its sole shareholder, H. H has a basis in her stock of $12,000. Determine the tax consequences of the distribution to H for each of the following situations: Accumulated E&P Current E&P a. $ 6,000 $30,000 b. (20,000) 15,000 c. 60,000 (25,550) d. (8,000) (4,550) 3-32 Transactions Affecting E&P. For each of the following transactions, indicate wheth-er a special adjustment must be made in computing R Corporation's current E&P. Answer assuming that E&P has already been adjusted for current taxable income. a) During the year, the corporation paid estimated Federal income taxes of $25,000 and estimated state income taxes of $10,000. b) The corporation received $5,000 of interest income from its investment in tax-exempt bonds. c) The corporation received a $10,000 dividend from General Motors Corporation. d) The corporation purchased machinery for $9,000 and expensed the entire amount in accordance with Code 179. e) The corporation reported a 1245 gain of $20,000. f. The corporation had a capital loss carryover of $7,000 from the previous year. This year the corporation had capital gains before consideration of the loss of $10,000