The AAA would not be a good starting point for a number of reasons, which may or may not be applicable:
- AAA does not include capital contributions
- AAA may not always include all distributions, since it cannot go below zero as a result of distributions
- Tax-exempt income does not flow through AAA
*A reminder that posts in a forum such as this do not constitute tax advice.
Also keep in mind the date of replies, as tax law changes.
