a. Current earnings and profits (E&P) of $25,000; accumulated E&P of $24,000. (Do not round intermediary...

 

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a. Current earnings and profits (E&P) of $25,000; accumulated E&P of $24,000. (Do not round intermediary calculations. Only round the amount you input in the cell to the nearest dollar. Complete all input fields. For zero amounts, enter a 0. Use parentheses or a minus sign for losses and E&P deficits.) Distribution Dividend income Remaining distribution Situation a. Requirement Return of capital Determine the tax consequences of the cash distribution in each of the following independent situations: Capital gain (loss) a. Carryforward accumulated E&P $ Current E&P of $25,000; accumulated E&P of $24,000. 0 b. Current E&P of $20,000; accumulated E&P deficit of $(26,000). C. Current E&P deficit of $(78,000); accumulated E&P of $50,000. d. Current E&P deficit of $(30,000); accumulated E&P deficit of $(15,000). Print Done - X a. Current earnings and profits (E&P) of $25,000; accumulated E&P of $24,000. (Do not round intermediary calculations. Only round the amount you input in the cell to the nearest dollar. Complete all input fields. For zero amounts, enter a 0. Use parentheses or a minus sign for losses and E&P deficits.) Distribution Dividend income Remaining distribution Situation a. Requirement Return of capital Determine the tax consequences of the cash distribution in each of the following independent situations: Capital gain (loss) a. Carryforward accumulated E&P $ Current E&P of $25,000; accumulated E&P of $24,000. 0 b. Current E&P of $20,000; accumulated E&P deficit of $(26,000). C. Current E&P deficit of $(78,000); accumulated E&P of $50,000. d. Current E&P deficit of $(30,000); accumulated E&P deficit of $(15,000). Print Done - X