Swan,a Calendar Year Corporation,has a Deficit in Current E

question 37

Multiple Choice

Swan,a calendar year corporation,has a deficit in current E & P of $200,000 and a $580,000 positive balance in accumulated E & P.If Swan determines that a $1 million distribution to its shareholders is appropriate at some point during the year,what is the maximum amount of the distribution that could potentially be treated as a dividend?

• A)$0.
• B)$380,000.
• C)$480,000.
• D)$580,000.
• E)None of the above.

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