How much dividend income do the shareholders report

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Question - Partridge Corporation, a calendar year taxpayer, has $350,000 of current E&P and a deficit in accumulated E&P of $150,000. If Partridge pays $500,000 distribution to its shareholders on July 1, how much dividend income do the shareholders report?

$0

$200,000

$350,000

$500,000

Reference no: EM132015224

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