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A corporation has a deficit in accumulated E & P of $100,000. The corporation has current E & P of $50,000. The corporation distributes $10,000
A corporation has a deficit in accumulated E & P of $100,000. The corporation has current E & P of $50,000. The corporation distributes $10,000 each to each of its three equal shareholders. The entire amount received by each is taxable as a dividend. a. True b. False
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