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How much is allocated to keith distribution

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Question - Keith and Andrew each own one-half of the stock in Parakeet Corporation, a calendar year taxpayer. Cash distributions from Parakeet are: $300,000 to Keith on April 1 and $100,000 to Andrew on May 1. If Parakeet's current E & P is $80,000, how much is allocated to Andrew's distribution? How much is allocated to Keith's distribution?

Reference no: EM132158589

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