Question: Select the best answer. According to lan Redpath and Brian O'Sullivan, which of the following is correct regarding a current distribution from an S

Select the best answer. According to lan Redpath and Brian O'Sullivan, which of the following is correct regarding a current distribution from an S

Select the best answer. According to lan Redpath and Brian O'Sullivan, which of the following is correct regarding a current distribution from an S corporation? o A. The taxpayer receiving the distribution cannot take a loss on the distribution. O B. The distribution must be reported as taxable income. 0 C. The distribution must be reported as a short-term capital loss. D. The distribution must be reported as a long-term capital loss.

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