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Business, 02.10.2019 03:00 SmartKitty

Stacey and eva each own one-half of the stock in parakeet corporation, a calendar year taxpayer. cash distributions from parakeet are: $350,000 to stacey on april 1 and $150,000 to eva on may 1. if parakeet’s current e & p is $60,000, how much is allocated to eva’s distribution? a. $5,000 b. $10,000 c. $18,000 d. $30,000 e. none of the above.

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Stacey and eva each own one-half of the stock in parakeet corporation, a calendar year taxpayer. cas...
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