How much was the total dividend income received


XYZ Corporation had $100,000 in earnings and profits prior to any distributions. XYZ Corporation made a nonliquidating distribution to its sole shareholder of $30,000 in cash plus real property that had a fair market value of $80,000 and a basis of $60,000. How much was the total dividend income received by the shareholder as a result of the distributions made by XYZ Corporation and what is the shareholder's basis in the real property received in the distribution?

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Accounting Basics: How much was the total dividend income received
Reference No:- TGS063294

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