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QUESTION
on january 1, gold corporation has eamp;p of $30,000 and generates no additional eamp;p during the year. on march 31, the corporation distributes...
on january 1, gold corporation has e&p of $30,000 and generates no additional e&p during the year. on march 31, the corporation distributes $40,000 to its sole shareholder, wyatt. determine the effect of the distribution on wyatt's taxable income and stock basis.
