Corporation X, which is a calendar-year taxpayer, pays $600,000 in a distribution to its shareholders....
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Accounting
Corporation X, which is a calendar-year taxpayer, pays $600,000 in a distribution to its shareholders. Corporation X has $500,000 of current earnings and profits (E&P) and $0 accumulated E&P.
How much dividend income will the shareholders report?
$0
$100,000
$500,000
$600,000
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