If a CFC distributes in the middle of the year. In yr 1 they had a loss
Fantastic news! We've Found the answer you've been seeking!
Question:
If a CFC distributes in the middle of the year. In yr 1 they had a loss and yr 2 in which the distribution was done mid-year they had money inclusive of GILTI. What would this distribution be considered? Either as previously taxed profit or untaxed profit.
Related Book For
Financial Accounting Tools for Business Decision Making
ISBN: 978-1118644942
6th Canadian edition
Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso, Barbara Trenholm, Wayne Irvine
Posted Date: