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Problem 7 Determine the amount of (1) taxable dividend, (2) nontaxable distribution, and (3) capital gain, for the distributions made in leach of the following

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Problem 7 Determine the amount of (1) taxable dividend, (2) nontaxable distribution, and (3) capital gain, for the distributions made in leach of the following cases: a. Corporate E&P of $20,000, shareholder stock basis of $24,000, distribution of $12,000. b. Corporate E&P of $15,000, shareholder stock basis of $14,000, distribution of $13,000. C. Corporate E&P of $32,000, shareholder stock basis of $10,000, distribution of $34,000. d. Corporate E&P of $28,000, shareholder stock basis of $22,000, distribution of $52,000

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