What will be XYZ E-P after distribution

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Question - XYZ corporation has current E&P of $125,000. It distributes building with a fair market value $200,000 and adjusted basis of $110,000 to its sole shareholder on January 15, 2018. The building is subject to $90,000 liability which shareholder assumes. What will be XYZ's E&P after distribution?

Reference no: EM133123468

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