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  3. 4. lo.7, 12 collettes s corporation holds a small

4. LO.7, 12 Collettes S corporation holds a small amount of accumulated earnings and profits...

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Accounting

4. LO.7, 12 Collettes S corporation holds a small amount of accumulated earnings and profits (AEP), thereby requiring the use of a more complex set of distribution rules. Collettes accountant tells her that this AEP requires the maintenance of the AAA figure each year. Discuss the issues that arise with respect to distributions when an S corporation holds AEP.

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