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Exit Corporation has accumulated E&P of $ 2 5 , 0 0 0 at the beginning of the current tax year. Current E&P is $
Exit Corporation has accumulated E&P of $ at the beginning of the current tax year. Current E&P is $ During the year, the corporation makes the following distributions to its sole shareholder who has a $ basis for her stock.
Date Amount Distributed
April $
June
August
November
Determine how much of each distribution is from current E & P accumulated E & P a return of capital, or capital gain.
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