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Business, 28.11.2019 04:31 rlevkovch

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 shareholder has a basis in the stock of $1.what amount of the distribution is a dividend, roc and capital gains?

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As of january 1, cassowary corporation has a deficit in accumulated e & p of $100,000. for the...
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