# Enrolled Agent Exam [Part 2] 27, S Corp Accumulated Adjustments Account (AAA) Page: https://stenobird.com/podcast/finance-exam-prep-7658413/enrolled-agent-exam-part-2-27-s-corp-accumulated-adjustments-account-aaa Text version: https://stenobird.com/podcast/finance-exam-prep-7658413/enrolled-agent-exam-part-2-27-s-corp-accumulated-adjustments-account-aaa.md Podcast: [Finance Exam Prep](https://stenobird.com/podcast/finance-exam-prep-7658413) Published: 2026-05-24T22:41:20+00:00 Episode link: https://open-exam-prep.com/ Audio file: https://episodes.captivate.fm/episode/fe0a7367-3ba8-42db-b81a-19c7a45f94a0.mp3 Processing state: not_requested JSON: https://stenobird.com/v1/public/podcasts/finance-exam-prep-7658413/episodes/enrolled-agent-exam-part-2-27-s-corp-accumulated-adjustments-account-aaa Duration seconds: 216 ## Resource This podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams. In this episode you will learn: - How the Accumulated Adjustments Account (AAA) tracks an S corporation's undistributed, previously taxed income. - The specific distribution order for an S corporation with former C corp Earnings & Profits (E&P). - Why distributions from C corp E&P are treated as taxable dividends and do not reduce shareholder basis. - The critical difference between the corporate-level AAA and a shareholder's individual stock basis. - A memorable phrase ('Always Attack E&P Before Gain') to master the S corp distribution hierarchy for the exam. For more free exam prep tools, practice questions, and AI-powered explanations, visit https://open-exam-prep.com/ or YouTube Channel: https://www.youtube.com/@Open-exam-prep ## Actions - request_transcript: `POST https://stenobird.com/v1/public/podcasts/finance-exam-prep-7658413/episodes/enrolled-agent-exam-part-2-27-s-corp-accumulated-adjustments-account-aaa/transcription-requests` — Idempotently request low-priority transcript generation for this episode. - read_markdown: `GET https://stenobird.com/podcast/finance-exam-prep-7658413/enrolled-agent-exam-part-2-27-s-corp-accumulated-adjustments-account-aaa.md` — Read the agent-friendly Markdown representation of this episode resource. A page view does not enqueue transcription. Agents should invoke `request_transcript` explicitly when they need this episode processed. ## Transcript Full transcripts are not published on public pages unless there is a clear rights basis.