Cedar Corporation is a calendar year taxpayer formed in 2014. Cedar's E & P before distributions for each of the past 5 years is listed below. 2018 $28,000
2017 $40,000
2016 $39,000
2015 $68,000
2014 $16,000
Cedar Corporation made the following distributions in the previous 5 years.
2017 Land (basis of $70,000, fair market value of $80,000)
2014 $20,000 cash
Cedar's accumulated E & P as of January 1, 2019 is:
A) $91,000.
B) $95,000.
C) $101,000.
D) $105,000.
E) None of the above.

Question

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The Answer of Cedar Corporation is a calendar year taxpayer formed in 2014. Cedar's E & P before distributions for each of the past 5 years is listed below. 2018 $28,000
2017 $40,000
2016 $39,000
2015 $68,000
2014 $16,000
Cedar Corporation made the following distributions in the previous 5 years.
2017 Land (basis of $70,000, fair market value of $80,000)
2014 $20,000 cash
Cedar's accumulated E & P as of January 1, 2019 is:
A) $91,000.
B) $95,000.
C) $101,000.
D) $105,000.
E) None of the above.

Cedar Corporation Is a Calendar Year Taxpayer Formed in 2014