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42) Clampett, Inc. (an S corporation) previously operated as a C corporation. Distributions from Clampett, Inc. are deemed to be paid in the following order:
42) Clampett, Inc. (an S corporation) previously operated as a C corporation. Distributions from Clampett, Inc. are deemed to be paid in the following order: A. Shareholder's remaining stock basis, the AAA account, prior C corporation earnings and profit B. The AAA account, prior C corporation earnings and profit, shareholder's remaining stock basis C. Prior C corporation earnings and profit, the AAA account, shareholder's remaining stock basis D. Shareholder's remaining stock basis, prior C corporation earnings and profit, the AAA account
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