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Acme, a C corporation, has $45,000 in E&P. It makes a cash distribution to its only shareholder of $75,000. The shareholders basis in the stock
Acme, a C corporation, has $45,000 in E&P. It makes a cash distribution to its only shareholder of $75,000. The shareholder’s basis in the stock before the distribution is $12,000. How much income, and what character, does the shareholder have?
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Ordinary income dividend 45000 Return of capital 12000 Ca...
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South Western Federal Taxation 2015
Authors: William H. Hoffman, William A. Raabe, David M. Maloney, James C. Young
38th Edition
978-1305310810, 1305310810, 978-1285439631
