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How much of the distribution is treated as a dividend

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Jayhawk Company reports current E&P of $340,000 and a deficit in accumulated E&P of ($322,500). Jayhawk distributed $405,000 to its sole shareholder, Christine Rock, on the last day of the year. Christine's tax basis in her Jayhawk stock is $57,000. (Leave no answer blank. Enter zero if applicable. Negative amount should be indicated by a minus sign.)

How much of the $405,000 distribution is treated as a dividend to Christine?

Reference no: EM132605168

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