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How would distribution be taxed to the sole shareholder

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Reference no: EM132815134

Question - An S corporation's only transaction for the year was the receipt of $10,000 in tax-exempt interest. How would a $6,000 distribution be taxed to the sole shareholder if the S corporation has an accumulated adjustments account of a negative $6,500 at the beginning of the year?

Reference no: EM132815134

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How would distribution be taxed to the sole shareholder : How would a $6,000 distribution be taxed to the sole shareholder if the S corporation has an accumulated adjustments account of a negative $6,500
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