A calendar year S corporation has a balance at the beginning of the year of...
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Accounting
A calendar year S corporation has a balance at the beginning of the year of $ in its AAA and $ in accumulated E&P from its years as a C Corporation. During the year, the corporation earns ordinary operating income of $ and makes a $ distribution to its shareholders. How much, if any, of the $ distribution is taxed as dividend income to the shareholders?
A calendar year S corporation has a balance at the beginning of the year of $ in its AAA and $ in accumulated E&P from its years as a C Corporation. During the year, the corporation earns ordinary operating income of $ and makes a $ distribution to its shareholders. How much, if any, of the $ distribution is taxed as dividend income to the shareholders?
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