NON-LIQUIDATING DISTRIBUTIONS (1 of 2) Nn- liquidating distributions in general Computing current&p Current vs. accumulated&p Non- liquidating property distributions Constructive dividends
CORPORATE FORMATION Alternative business forms Check-box-the- requlations Legal requirements for forming a corporation 351 deferrals Choice of capital structure Worthless stock or debt obligations
Learning Objectives Use the tax formula to compute an individual's taxable income Determine the amount allowable for the standard deduction Determine the amount and the correct number of personal and dependency deductions