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Black Corporation and Tom each own 50% of Tan Corporations common stock....

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Accounting

Black Corporation and Tom each own 50% of Tan Corporations common stock. On January 1,2024 Tan has a deficit in accumulated E & P of $200,000. Its current E & P is $90,000. During the year, Tan makes cash distributions of $40,000 each to Black and Tom.
A How are the two shareholders taxed on the distribution?
B What is Tan Corporations accumulated E & P at the end of the year?

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