2. Burger (a calendar year S Corporation) has a BOY balance in AAA of $75,000, AEP $30,000, and OAA $O. They make a dist

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2 Burger A Calendar Year S Corporation Has A Boy Balance In Aaa Of 75 000 Aep 30 000 And Oaa O They Make A Dist 1 (24.96 KiB) Viewed 47 times

2. Burger (a calendar year S Corporation) has a BOY balance in AAA of $75,000, AEP $30,000, and OAA $O. They make a distribution to their sole shareholder Hamlet on December 31 of land with FMV $100,000 and basis of $90,000. Hamlet's stock basis at the BOY is $85,000. a. What is the tax impact of the distribution to Hamlet? b. How would your answer change if the bypass election was made? C. Bonus! How would your answer in part A change if the balance in AEP was so