Last year, Koko purchased < 1% of the stock of PCorp, a foreign corporation that meets the definition of a PFIC. Pcorp paid Koko a $1,000 dividend last year and a $20,000 dividend in the current year. 

Last year, how much of the $1,000 dividend would have been considered an "excess distribution" under the Excess Distribution Method?

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Under the Excess Distribution Method an excess distribution ... View the full answer