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CCH Federal Taxation Comprehensive Topics 2019 25. Given the following information, determine the taxable portion and return of capital in each situation, as well as
CCH Federal Taxation Comprehensive Topics 2019
25.
Given the following information, determine the taxable portion and return of capital in each situation, as well as accumulated E&P on January 1, 2019.
2018 Current E&P | January 1, 2018 Accumulated E&P | July 1, 2018 Distribution | |
A. | $75,000 | $20,000 | $65,000 |
B. | $75,000 | $20,000 | $85,000 |
C. | $75,000 | ($14,000) | $65,000 |
D. | $75,000 | $20,000 | $105,000 |
E. | $75,000 | ($15,000) | $85,000 |
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