Solution-What are the tax consequences of the distribution

What are the tax consequences of the distribution to fargo

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Reference no: EM132460204

Fargo Corporation distributes property (basis of $1,295,600 and fair market value of $1,554,720) to a shareholder. Fargo Corporation has sufficient E & P for its distributions.

Question 1: What are the tax consequences of this distribution to Fargo?

Problem 1: Fargo Corporation recognizes a __________ of $__________. The net __________ to Fargo's E & P is $__________. The shareholder has dividend income of $__________.

Reference no: EM132460204

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What are the tax consequences of the distribution to fargo

Reference no: EM132460204

Reference no: EM132460204

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