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Distributions made by an S corporation result in the recognition of gross income only when made out of accumulated earnings and profits, or when the
Distributions made by an S corporation result in the recognition of gross income only when made out of accumulated earnings and profits, or when the sum of the amount of cash and the fair market value of the property distributed to a shareholder exceeds the basis of his/her stock investment in the corporation. true or false - explain you ranswer!
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