Modifying the order of distribution rules for an S corporation with AE&P.
The Tax Adviser › Vol. 38 Nbr. 10, October 2007
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Summary
Accumulated earnings and profits
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Modifying the order of distribution rules for an S corporation with AE&P.
A distribution from an S corporation is generally treated as made from the corporation's accumulated adjustments account (AAA) tax flee to the extent of a shareholder's basis. It is then treated as taken from any remaining balance of AAA and is taxed at capital gain rates. ...
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