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QUESTION
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
