ACCUMULATED ADJUSTMENT OF 20.000 PREVIOUSLY TAXED INCOME 15,000 EARNINGS AND PROFITS 30.000 TOM OWNS 100% OF LEE INC, STOCK BASIS OF 38,000. TOM…
ACCUMULATED ADJUSTMENT OF 20.000
PREVIOUSLY TAXED INCOME 15,000
EARNINGS AND PROFITS 30.000
TOM OWNS 100% OF LEE INC, STOCK BASIS OF 38,000. TOM RECEIVES DISTRIBUTION OF 70,000. WHAT IS BASIS AFTER DISTRIBUTION
0
15000
20000
38000
Leave a Reply
Want to join the discussion?Feel free to contribute!