Compute the corporate-level built-in gains tax

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Reference no: EM131912937

Problem

Matulis, Inc., a C corporation, owns a single asset with a basis of $325,000 and a fair market value of $800,000. Matulis holds a positive E & P balance. It elects S corporation status and then sells the asset. Compute the corporate-level built-in gains tax that must be paid by Matulis.

Reference no: EM131912937

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Compute the corporate-level built-in gains tax : Matulis, Inc., a C corporation, owns a single asset with a basis of $325,000. Compute the corporate-level built-in gains tax that must be paid by Matulis.

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