Husker corporation reports current e&p of negative $200,000 in 20x3 and accumulated e&p at the beginning of the year of

Question

4 years ago

13

Husker corporation reports current e&p of negative $200,000 in 20x3 and accumulated e&p at the beginning of the year of

$300,000. husker distributed $200,000 to its sole shareholder on december 31, 20x3. the shareholder's tax basis in her stock in husker is $50,000. how is the distribution treated by the shareholder in 20x3?

Business

1 answer:

Ksivusya [100] · Answer 1 · 2021-12-07T08:22:45+03:00

Ksivusya [100]4 years ago

3 0

Distribution is treated as a deductable to the shareholders of 1:10 to each dollar amount.