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Omega Corporation Is Formed in 2006

Question 51

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Omega Corporation is formed in 2006. Its current E&P and distributions for each year through 2010 are as follows: Omega Corporation is formed in 2006. Its current E&P and distributions for each year through 2010 are as follows: Is the distribution made from current or accumulated E&P? At the beginning of 2011, what is accumulated E&P? Is the distribution made from current or accumulated E&P? At the beginning of 2011, what is accumulated E&P?

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The $18,000 distribution is made from 20...

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