At the beginning of the current year, doug and alfred each own 50% of amaryllis corporation (a calendar year taxpayer). in july, doug sold his stock to kevin for $140,000. at the beginning of the year, amaryllis corporation had accumulated e & p of $240,000 and its current e & p is $280,000 (prior to any distributions). amaryllis distributed $300,000 on february 15 ($150,000 to doug and $150,000 to alfred) and distributed another $300,000 on november 1 ($150,000 to kevin and $150,000 to alfred). kevin has dividend income of: