Bonus Inc. was incorporated on January $1,2019.$ It's taxable income each year since

incorporation is as follows:

$2019100,000$

$2020100,000$

$20211,000,000$

$20221,000,000$

Bonus Inc. had two equal shareholders, Mr$.$ Student and Miss Masters, who are unrelated.

Mr$.$ Student's basis in the corporation at January $1,2022$ was $$100,000,$ and Miss Masters' basis was $$500,000.$

Mr$.$ Student started the corporation in $2019,$ and Miss Masters became a shareholder on January $1,2022.$

During $2022,$ Bonus Inc. made the following distributions, which were divided equally to the two shareholders.

June $1,2022500,000$

September $1,20221,000,000$

December $1,20221,000,000$

A Calculate Bonus Inc's accumulated E&P at January $1,2022.$

Bonus Inc. was incorporated on January $1,2019.$ It's taxable income each year since

incorporation is as follows:

$2019100,000$

$2020100,000$

$20211,000,000$

$20221,000,000$

Bonus Inc. had two equal shareholders, Mr$.$ Student and Miss Masters, who are unrelated.

Mr$.$ Student's basis in the corporation at January $1,2022$ was $$100,000,$ and Miss Masters' basis was $$500,000.$

Mr$.$ Student started the corporation in $2019,$ and Miss Masters became a shareholder on January $1,2022.$

During $2022,$ Bonus Inc. made the following distributions, which were divided equally to the two shareholders.

June $1,2022500,000$

September $1,20221,000,000$

December $1,20221,000,000$

A Calculate Bonus Inc's accumulated E&P at January $1,2022.$

B Calculate the $2022$ current E&P$.$

C What are the tax consequences to Mr$.$ Student as a result of the June $1$ distribution

D What are the tax consequences to Mr$.$ Student as a result of the September $1$ distribution

E What are the tax consequences to Mr$.$ Student as a result of the December $1$ distribution

F What are the tax consequences to Miss Masters as a result of the December $1$ distribution

G What are Bonus Inc.$\text{'}$s accumulated earnings and profits as at January $1,2023$