Current vs Accumulated E&P(2o2) Distributions in excess of e&P Cannot create an e&p deficit Normally produce ordinary income to s/h If CE&P is positive and beginning AE&P is a deficit distributions will produce ordinary income to s/h until CE&P reaches zero 1010 Current vs Accumulated E&P(2 of 2) Distributions in excess of E&P –Cannot create an E&P deficit –Normally produce ordinary income to s/h – If CE&P is positive and beginning AE&P is a deficit, distributions will produce ordinary income to s/h until CE&P reaches zero