What is effect of a distribution on accumulated e&p

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Reference no: EM139734

What is Effect of a distribution on accumulated E&P and current E&P.

Explain the effect of a distribution in a year when the distributing corporation has any of the following:

1. A deficit in accumulated E & P and a positive amount in current E & P.

2. A positive amount in accumulated E & P and a deficit in current E & P.

3. A deficit in both current and accumulated E & P.

4. A positive amount in both current and accumulated E & P.

Reference no: EM139734

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