General Account - Maria owns 100% of stock with adjusted basis of $52,000 she receives a cash distribution of $250,000 from the company when its earnings and profits are $100,000. What is Maria's dividend income?

General Account - Maria owns 100% of stock with adjusted basis of $52,000 she receives a cash distribution of $250,000 from the company when its earnings and profits are $100,000. What is Maria's dividend income?

CONCEPTS IN FED.TAX.,2020-W/ACCESS

20th Edition

ISBN:9780357110362

Author:Murphy

Publisher:Murphy

Chapter4: Income Exclusions

Section: Chapter Questions

Problem 55P

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