Golfer2016
Level 2
05-03-2020
10:45 AM
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So you’re saying the capital contribution doesn’t affect retained earnings? It also can’t affect the AAA. So is it just not reported on tax form and client needs to hold record for their own records?
I guess if their documents say it’s $1/share and the Corp issued 1000 shares, $1000 goes to capital stock and $19000 is additional paid in capital? So if that’s right it would be recorded that way.