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23-05-2023
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QUESTION 7 Nanette receives a distribution of $170,000 From Johnson Corporation, ans Corporation, in which she is the sole one hundred percent (100%) shareholder. Johnson Corporation has an Accumulated Adjustments Account (AAA) of $22.500 and Accumulated Emnings And Profits (AEP) of $2.500. Nanett's bassiner in her stock in Johnson Corporation is $30,000. The amount of Ordinary income (Dividends) recognized by Nanette as a result of this distribution $137.500 True False

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