Question: SHOW ALL WORK Complete the following schedule for each case. Assume the shareholders have more than enough basis in the stock investment. Accumulated E &P

SHOW ALL WORK

SHOW ALL WORK Complete the following schedule for each case. Assume the

Complete the following schedule for each case. Assume the shareholders have more than enough basis in the stock investment. Accumulated E &P Beginning of Year Cash Distributions Current (All on Last Dividend Return E&P Day of Year) Income Of Capital a. ($150,000) $70,000 $130,000 b. 200,000 (60,000) 210,000 c. 130,000 50,000 150,000 d. 120,000 (40,000) 130,000 e. Same as (d) except the distribution of $130,000 is made on June 30, and the corporation uses the calendar year for tax purposes. Complete the following schedule for each case. Assume the shareholders have more than enough basis in the stock investment. Accumulated E &P Beginning of Year Cash Distributions Current (All on Last Dividend Return E&P Day of Year) Income Of Capital a. ($150,000) $70,000 $130,000 b. 200,000 (60,000) 210,000 c. 130,000 50,000 150,000 d. 120,000 (40,000) 130,000 e. Same as (d) except the distribution of $130,000 is made on June 30, and the corporation uses the calendar year for tax purposes

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