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How much is allocated to andrew distribution

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Reference no: EM13343154

- Stacey and Andrew 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 Andrew on May 1. If Parakeet's current E & P is $60,000, how much is allocated to Andrew's distribution?

a. $5,000.
b. $10,000.
c. $18,000.
d. $30,000.
e. None of the above.

- Maria and Christopher each own 50% of Cockatoo Corporation, a calendar year taxpayer. Distributions from Cockatoo are: $750,000 to Maria on April 1 and $250,000 to Christopher on May 1. Cockatoo's current E & P is $300,000 and its accumulated E & P is $600,000. How much of the accumulated E & P is allocated to Christopher's distribution?

a. $0.
b. $75,000.
c. $150,000.
d. $300,000.
e. None of the above.

 

Reference no: EM13343154

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