Accumulated EP, 50k Current EP, 400k

nonliquid distribution basis 20k, FMV 120k

what is accumulated EP at end of year after distribution?

X Corp has accumulated E&P of $50,000 at the beginning of the year and current E&P of $400,000. It makes a nonliquidating distribution to its shareholders of property with a basis of $20,000 and a fair market value of $120,000. What is X Corp's accumulated E&P at the end of the year after the distribution? SHOW AND EXPLAIN YOUR COMPUTATIONS. Edit View Insert Format Tools Table 12pt Paragraph IBI U A e 1 of 2 O #1 Distribution X-Corp Accumulated EP EOY = 6 words