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Joe and Ethan each own 50% of JH Corporation, a calendar year taxpayer. Distributions from JH are: $750,000 to Joe on April 1 and $250,000

Joe and Ethan each own 50% of JH Corporation, a calendar year taxpayer. Distributions from JH are: $750,000 to Joe on April 1 and $250,000 to Ethan on May 1. JH's current E & P is $300,000 and its...

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