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Any qualifying distribution made during the tax year will be treated as being made:

1. First, out of undistributed income of the immediately preceding tax year (if the private foundation was subject to the initial excise tax for the prior tax year) to the extent thereof,
2. Second, out of undistributed income for the current tax year to the extent thereof, and
3. Then, out of corpus.

Distributions are taken into account in the order of time in which made.

Additional information

• Ordering of qualifying distributions - Special choice

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