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Business, 12.05.2021 03:10 officialgraciela67
Corporation M has $40,000 of current earnings and profits and $10,000 of accumulated earnings and profit. During the year Corporation M distributes $60,000 to is only shareholder – N. Before the distribution, N has basis in their stock of $100,000. What amount of capital gain income will N recognize related to this distribution?
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Corporation M has $40,000 of current earnings and profits and $10,000 of accumulated earnings and pr...
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