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Author Question: Greg Corporation, an accrual method taxpayer, had accumulated earnings and profits of $300,000 as of ... (Read 66 times)

krzymel

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on: Sep 13, 2020

Question 1

Dixie Corporation distributes $31,000 to its sole shareholder, Sally. At the time of the distribution, Dixie's E & P is $25,000 and Sally's basis in her Dixie stock is $10,000. Sally's basis in her Dixie stock after the distribution is
◦ $4,000.
◦ $10,000.
◦ $25,000.
◦ $31,000.

Question 2

Greg Corporation, an accrual method taxpayer, had accumulated earnings and profits of $300,000 as of December 31, last year. For its current tax year, Greg's books and records reflect the following:



Based on the above, what is the amount of Greg Corporation's current earnings and profits for this year?
◦ $120,500
◦ $122,000
◦ $124,500
◦ $129,500
Federal Taxation 2017 Individuals ¦ Pope, Rupert, Anderson ¦ 30th Edition
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Marked as best answer by krzymel on Sep 13, 2020

polinasid

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Reply #1 on: Sep 13, 2020
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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krzymel

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Reply 2 on: Sep 13, 2020
YES! Correct, THANKS for helping me on my review

raenoj

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Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

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