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payment corporation has accumulated E&P of 15,000 and current E&P of 21,000. during the year the corporation distributes to its sole shareholder as follows: April
payment corporation has accumulated E&P of 15,000 and current E&P of 21,000. during the year the corporation distributes to its sole shareholder as follows: April 1- $20,000 June 1- $20,000 August 1- $15,000 November 1- $5000 the sole shareholder basis is $45000, what are the tax consequences on August 1? Dividend Income? return of capital? capital gain? stock basis after the distribution?
June 1- $20,000
August 1- $15,000
November 1- $5000
the sole shareholder basis is $45000, what are the tax consequences on August 1?
Dividend Income?
return of capital?
capital gain?
stock basis after the distribution?
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