Question
A Corp has Accumulated E & P deficit of ($500,000) and in 2020 has current E & P of $200,000. A Corp makes a distribution
A Corp has Accumulated E & P deficit of ($500,000) and in 2020 has current E & P of $200,000. A Corp makes a distribution of $100,000 in 2020 to its 100% shareholder. This is all of the distributions made in 2020. How is the $100,000 distribution treated for tax purposes?
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Accounting
Authors: Carl S. Warren, James M. Reeve, Philip E. Fess
20th Edition
0324025424, 978-0324025422
