A corporation had $10,000, of earnings and profits (E&P) for the current year and accumulated...
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Accounting
A corporation had $10,000, of earnings and profits (E&P) for the current year and accumulated negative E&P of $100,000. It paid a cash distribution of $30,000. What amount represents the taxable dividend to the shareholder for that year?
a. $100,000
b. $30,000
c. $10,000
d.$0
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