I've attached tax problems I am unsure. I have attempted them all.

1) On January 1, Trumpeter, Inc. has accumulated E & P of $300,000. (Trumpeter reports on a calendar year). For the year, it has a net operating loss of $300,000. On June 30, Trumpeter distributes $160,000 to Don, its sole shareholder, who has a stock basis of $112,500. What is Don's stock basis after the distribution? 1. $0 2. $102,500 3. $112,500 4. $150,000 5. None of the above I think the answer is 1 or 2 2. Loose Weapon, Inc. reports on the calendar year. On January 1, Murtaugh and Riggs each own 50%. In July, Murtaugh (who is too old for this) sold his stock to Dwayne Johnson for $140,000. At the beginning of the year, LW had accumulated E & P of $240,000 and generated current E & P for the year of $280,000 (prior to any distributions). LW distributed $300,000 on February 15 ($150,000 to Murtaugh and $150,000 to Riggs) and distributed another $300,000 on November 1 ($150,000 to Dwayne and $150,000 to Riggs). Dwayne's stock basis at year end is: 1. 2. 3. 4. 5. $90,000 $140,000 $100,000 $70,000 None of the above. I think the answer is 3 or 5 3. Babaloo Corporation has 5,000 shares of stock outstanding. Desi owns 2,000. The rest are owned by unrelated individuals. Babaloo redeems 1,000 shares for $300,000 at a time when it has paid-in capital of $400,000 and E & P of $1.0 million. What would be the charge to Babaloo's E & P as a result of the redemption? 1. $60,000 2. $200,000 3. $280,000 4. $300,000 5. None of the above I think the answer is 2 4. Bruce Wayne, the sole owner of Batarang, Inc., a manufacturer of super hero 1. 2. 3. 4. 5. gimmicks, received a non-taxable preferred stock dividend in 2005. After distribution, he held 1,000 shares of the common (FMV: $1,000 per share (basis: $10 per share) and 100 shares of preferred, FMV: $100 per share). Batarang had $5,000 E&P. In 2010 he gave the preferred to his son, Damien. In 2016, Batarang redeems all of the stock from Damien for $15,000. E&P at the time of redemption was $25,000. With respect to the stock redemption: Damien will recognize a capital gain of $14,090. Damien will recognize a dividend of $5,000 and capital gain of $9,090. Damien will recognize a dividend of $10,000 and capital gain of $4,090.. Damien will recognize dividend income of $15,000. None of the above. I think the answer is 4 or 5 5. Moe and Curley, brothers, own all of the stock in Susquehanna Hat, Inc. Moe owns 60% and Curley 40%. Three years ago, they transferred real property (basis: $175,000, FMV: $160,000) to the corporation as a contribution to capital. This year they adopted a plan of complete liquidation pursuant to the land is to be distributed to them pro rata. Due to failing market conditions, the property had declined in value to $80,000. What amount of loss will Susquehanna recognize on the distribution of the property? 1. $0 2. $15,000 3. $80,000 4. $95,000 5. None of the above I think the answer is 3 or 4 6. Cobblepot and Nygma founded the Iceberg Lounge, Inc. as equal shareholders (Nygma is the lounge act). At the end of the year, each receives a cash distribution of $500,000. Iceberg's current year taxable income is $1 million and it has no accumulated E & P. (Riddler's act isn't very good). Two years ago, Iceberg sold air conditioning equipment to Mr. Freeze for $1,200,000 (basis of $400,000). Payment for one-half of the sale of the asset was made last year, the balance this year--in cold cash. How much of Nygma's distribution will be taxed as a dividend? 1. $0 2. $300,000 3. $500,000 4. $600,000 5. None of the above I think the answer is 1 or 2