Single Cash Distribution. F Inc. made a $50,000 distribution on February 1 of this year...
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Accounting
Single Cash Distribution. F Inc. made a $50,000 distribution on February 1 of this year to its sole shareholder, H. H has a basis in her stock of $12,000. Determine the tax consequences of the distribution to H for each of the following situations:
Accumulated E&P a. b. c. d. $ 6,000 (20,000) 60,000 (8,000) Current E&P $ 30,000 15,000 (25,550) (4,550)
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