RECOMMENDED!!1099-DIV forms for Blanton Corporation

  

1099-DIV forms for Blanton CorporationBlanton Corporation had a deficit in its current earnings and profits of $36,500 for the current year. It has $75,000 in accumulated earnings and profits. The corporation made two distributions to its shareholders. On April 30, it distributed $40,000, and on November 30, it distributed $20,000.When the corporation sends out its 1099-DIV forms to its shareholders, how much of the distribution will be taxable to the shareholders as dividends?

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