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Steve, Inc

Question 125

Multiple Choice

Steve, Inc., a U.S. shareholder owns 100% of a CFC from which Steve receives a $3 million cash distribution. The CFC's E & P is composed of the following amounts. Steve, Inc., a U.S. shareholder owns 100% of a CFC from which Steve receives a $3 million cash distribution. The CFC's E & P is composed of the following amounts. Steve recognizes a taxable dividend of: A) $3 million. B) $2 million. C) $1.5 million. D) $0. Steve recognizes a taxable dividend of:


A) $3 million.
B) $2 million.
C) $1.5 million.
D) $0.

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