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What amount of distribution is reported as nontaxable return

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Question - A C corporation had accumulated negative earnings and profits (E&P) of $15,000 at the beginning of Year 4. Year 4's current E&P is $10,000. On the last day of Year 4, the corporation made a $12,500 cash distribution to its shareholders. Assuming the shareholders have sufficient basis, what amount of the distribution is reported as a nontaxable return of capital?

A. $0

B. $2,500

C. $10,000

D. $12,500

Reference no: EM133140207

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