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Business, 12.12.2020 17:00 cutegirl0987

Emma elected as an “S” Corp in 2011. The corporation had operating loss for $50,000 in the first year. The total net income for the following 6 years was $120,000. In 2017, it made distributions ($30,000 each) to its 3 equal shareholders. What’s the balance for AEP account at the end of 2017?

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Emma elected as an “S” Corp in 2011. The corporation had operating loss for $50,000 in the first yea...
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