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On December 3 1 of the current year, LAC Corporation had accumulated earnings and profits ( E&P ) of $ 2 , 0 0 0
On December of the current year, LAC Corporation had accumulated earnings and profits E&P of $ before a dividend declaration and distribution. On December LAC Corp distributed cash of $ and a vacant parcel of land to Avery, LAC Corp's only shareholder. At the date of the distribution, the land had a basis of $ and a fair market value of $ What was verys dividend income in the current year from these distributions, assuming these were the only distributions LAC Corp made?
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