Question: On January 1 , Eagle Corporation ( a calendar year taxpayer ) has accumulated E&P of $ 3 0 0 , 0 0 0 During

On January 1, Eagle Corporation (a calendar year taxpayer) has accumulated E&P of $300,000 During the year, Eagle incurs a net loss of $420,000 from operations that accrues ratably. On June 30, Eagle distributes $180,000 to Lori, its sole shareholder, who has a basis in her stock of $112,500. How much of the $180,000 is a dividend to Lori?

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