Question 2 10 pts During 2017, Sophia Roosevelt, the sole shareholder of a calendar year...
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Accounting
Question 2 10 pts During 2017, Sophia Roosevelt, the sole shareholder of a calendar year 5 corporation, received a distribution of $50,000. On December 31, 2016, her stock basis was $33,000. The corporation earned $16,000 ordinary income during the year. It has no accumulated E&P Which statement is correct? None of the above. Roosevelt's ordinary income is $49.000 Roosevelt's return of capital is $16,000. Roosevelt's stock basis will be $17.000. Roosevelt recognizes a $1.000 LTCG
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