Polly has been the sole shareholder of a calendar year S corporation since its inception Polly 's stock basis is $15,500, and she receives a distribution of $19,000 Corporate level accounts are as follows How is Polly taxed on the distribution AAA $6,000 AEP $500 ...

The distribution is accounted for as follows AAA taxf ...

Polly has been the sole shareholder of a calendar year S corporation since its inception. Polly's stock

Question:

Polly has been the sole shareholder of a calendar year S since its inception. Polly's stock basis is $15,500, and she receives a of $19,000. Corporate-level accounts are as follows. How is Polly taxed on the $6,000
AEP................ $500
Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may... Distribution
The word "distribution" has several meanings in the financial world, most of them pertaining to the payment of assets from a fund, account, or individual security to an investor or beneficiary. Retirement account distributions are among the most...