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The amount of the distribution that is a dividend is:

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solution


Question

18. As of January 1, Cassowary Corporation has a deficit in accumulated E & P of $100,000. For the tax year, current E & P (accrued ratably) is $240,000 (prior to any distributions). On July 1, Cassowary Corporation distributes $275,000 to its sole shareholder. The amount of the distribution that is a dividend is

 

Paper#20826 | Written in 18-Jul-2015

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