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On 1 / 1 Year 6 , it has accumulated E&P of $ 1 0 0 , 0 0 0 , and on 1 2
On Year it has accumulated E&P of $ and on it has current E&P of $ It distributes a $ cash dividend at end of year to Jack and Jill for a total of $ Jack and Jill each have a basis of $ in their UTH stock.
How much of the dividend distribution is taxable to Jack and to Jill, and what if any other consequences result?
What is UTHs current and accumulated E&P after the dividend distributions?
What is accumulated E&P on Year
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