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Joe owns 75% and Ethan owns 25% of JH Corporation, a calendar year taxpayer. JH makes a $600,000 distribution to Joe on April 1 and
Joe owns 75% and Ethan owns 25% of JH Corporation, a calendar year taxpayer. JH makes a $600,000 distribution to Joe on April 1 and a $200,000 distribution to Ethan on May 1. JH's current E & P is $120,000 and its accumulated E & P is $500,000? What are the tax implications of the distributions to Joe and Ethan?
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JH Corporations distributions to Joe and Ethan are considered taxable dividends to the extent of the ...
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Taxation For Decision Makers 2017
Authors: Shirley Dennis Escoffier, Karen Fortin
7th Edition
1119330416, 978-1119330417
