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please solve it as soon as posiblle 25 Points Question 3 For the 2020 tax year, Flack Corporation had a deficit in Current E &
please solve it as soon as posiblle
25 Points Question 3 For the 2020 tax year, Flack Corporation had a deficit in Current E & P of $48,043, and a positive balance in Accumulated E BP of $162,320. On December 31, Flack made a cash distribution of $177,610 to its sole shareholder, Christine: Christine has a basis in her Flack Corporation stock of $16.371. Required: Calculate the effects of the December 31 distribution, including the breakdown on Form 1099, SHOW ALL CALCULATIONS When you're finished, be sure to save and reattach the spreadsheet with your answer back to the exam. El Blank Spreadsheet WN21.xlsx Step by Step Solution
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