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For S corporations with E&P, distributions are deemed to be paid from (1) the AAA account, (2) existing accumulated E&P, and (3) the shareholders remaining
For S corporations with E&P, distributions are deemed to be paid from (1) the AAA account, (2) existing accumulated E&P, and (3) the shareholders remaining basis in the S corporation stock, if any.
a. | False | |
b. | True |
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