Hi I need help with this questionCompany reports current E&P of $3


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Hi I need help with this question


Company reports current E&P of $310,000 and accumulated E&P of negative $282,500. Company distributed $505,000 to its sole shareholder on the last day of the year. The shareholder tax basis in the co

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Hi I need help with this question


Company reports current E&P of $310,000 and accumulated E&P of negative $282,500. Company distributed $505,000 to its sole shareholder on the last day of the year. The shareholder tax basis in the company stock is $128,750. What is the shareholders tax basis in her company stock after the distribution? What is the company balance in accumulated E&P on the first day of next year

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