Cedar Corporation is a calendar year taxpayer formed in 2011.Cedar's E & P for each of the past 5 years is listed below. 2015 $28,000 2014 $40,000 2013 $39,000 2012 $68,000 2011 $16,000 Cedar Corporation made the following distributions in the previous 5 years. 2014 Land (basis of $70,000,fair market value of $80,000) 2011 $20,000 cash Cedar's accumulated E & P as of January 1,2016 is:

Question

Cedar Corporation is a calendar year taxpayer formed in 2011.Cedar's E & P for each of the past 5 years is listed below. 2015 $28,000 2014 $40,000 2013 $39,000 2012 $68,000 2011 $16,000 ​ Cedar Corporation made the following distributions in the previous 5 years. 2014 Land (basis of $70,000,fair market value of $80,000) 2011 $20,000 cash ​ Cedar's accumulated E & P as of January 1,2016 is:

Quizplus · Accepted Answer

The Answer of Cedar Corporation is a calendar year taxpayer formed in 2011.Cedar's E & P for each of the past 5 years is listed below. 2015 $28,000 2014 $40,000 2013 $39,000 2012 $68,000 2011 $16,000 ​ Cedar Corporation made the following distributions in the previous 5 years. 2014 Land (basis of $70,000,fair market value of $80,000) 2011 $20,000 cash ​ Cedar's accumulated E & P as of January 1,2016 is:

Cedar Corporation Is a Calendar Year Taxpayer Formed in 2011