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What is ducks accumulated e & p

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Reference no: EM13343152

- Duck Corporation is a calendar year taxpayer formed in 2005. Duck's E & P for each of the past 5 years is listed below.

2010 $280,000
2009 $400,000
2008 $390,000
2007 $680,000
2006 $160,000

Duck Corporation made the following distributions in the previous 5 years.

2009 Land (basis of $700,000, fair market value of $800,000)
2006 $200,000 cash

Duck's accumulated E & P as of January 1, 2011 is:

a. $910,000.
b. $950,000.
c. $1,010,000.
d. $1,050,000.
e. None of the above.

 

 

Reference no: EM13343152

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