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(Solved) (Latest ver. Aug 2020) - Nonliquidating Distribution

Brief item decscription


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Question:

1.Deficit in accumulated E&P is $(20,000)
Current E&P is $15,000
On 12/31/x1, the Corp distributed $50,000 to its sole SH
How much is considered to be dividend?

2. Accumulated E&P is $15,000
Deficit in current E&P $(20,000)
On 12/31/x1, the Corp distributed $50,000 to its sole SH
How much is considered to be dividend?

3. Accumulated E&P is $15,000
Deficit in current E&P $(20,000)
On 12/31/x1, the Corp distributed $50,000 to its sole SH
A current deficit is treated as happening evenly throughout the year, about when would the AE&P run out?
Is there any E&P left on 12/31?

4. Accumulated E&P is $15,000
Deficit in current E&P $(20,000)
What if the distribution date changes to 6/30?

 







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