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An S corporation had the following balances at the end of the year (AFTER taking into account the distribution): AAA 15,000.00 AE&P 50,000.00 OAA 3,000.00
| An S corporation had the following balances at the end of the year (AFTER taking into account the distribution): | |
| AAA | 15,000.00 |
| AE&P | 50,000.00 |
| OAA | 3,000.00 |
| Assume the sole shareholder has a basis in the stock (before distribution) of $10,000 and received a distribution of $100,000 for the year. Provide the complete tax effects to the shareholder of this distribution. | |
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Statutory Audits In Europe
Authors: Michael Kend, Giulia Leoni, Cristina Florio, Silvia Gaia
1st Edition
1032201738, 978-1032201733
