Determine the amount of nontaxable distribution

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Question - Determine the amount of (1) taxable dividend, (2) nontaxable distribution, and (3) capital gain, for the distributions made in each of the following cases:

a. Corporate E&P of $20,000, shareholder stock basis of $24,000, distribution of $12,000.

b. Corporate E&P of $15,000, shareholder stock basis of $14,000, distribution of $13,000.

c. Corporate E&P of $32,000, shareholder stock basis of $10,000, distribution of $34,000.

d. Corporate E&P of $28,000, shareholder stock basis of $22,000, distribution of $52,000.

Reference no: EM132609881

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