Renee the sole sharholder of indigo coproration sold her stock to chad on July 1 for 180,000.

Question:

Renee the sole sharholder of indigo coproration sold her stock to chad on July 1 for 180,000. Renees stock basis at he beginning of the year was 120,000. Indigo made a 60,000 cash to Renee immediately before the sale, while chad received a 120,000 cash from Indigo on November 1. As of the beginning of the current year, Indigo had 26,000 in accumulated E and p, while current E and P (before distributions) was 90,000. Which of the following statement is correct?
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...