Ann and Paul are shareholders of Android Corporation. Each has a stock basis of $10,000. Android has $21,000 of current E&P and $6,000 of accumulated E&P. Android distributes $12,000 to Anne on July 31 and to Paul $24,000 On December 1. What is Ann’s dividend income (if any)? What is Ann’s capital gain? (if any)? What is Paul’s dividend income (if any)? What is Paul’s capital gain (if any)?
Ann and Paul are shareholders of Android Corporation. Each has a stock basis of $10,000. Android has $21,000 of current E&P and $6,000 of accumulated E&P. Android distributes $12,000 to Anne on July 31 and to Paul $24,000 On December 1. What is Ann’s dividend income (if any)? What is Ann’s capital gain? (if any)? What is Paul’s dividend income (if any)? What is Paul’s capital gain (if any)?
Chapter20: Corporations And Parterships
Section: Chapter Questions
Problem 49P
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Ann and Paul are shareholders of Android Corporation. Each has a stock basis of $10,000. Android has $21,000 of current E&P and $6,000 of accumulated E&P. Android distributes $12,000 to Anne on July 31 and to Paul $24,000 On December 1.
What is Ann’s dividend income (if any)?
What is Ann’s capital gain ? (if any)?
What is Paul’s dividend income (if any)?
What is Paul’s capital gain (if any)?
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ISBN:
9780357109731
Author:
Hoffman
Publisher:
CENGAGE LEARNING - CONSIGNMENT