Solution-What is the amount of gain recognized by the

What is the amount of gain recognized by the corporation

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Reference no: EM131736063

Question - In 2013, a corporation distributed property with an adjusted basis of $100,000 and a fair market value of $140,000 to its shareholders. Its earnings and profits for 2013 were $170,000, and accumulated earnings and profits on January 1, 2013, were $370,000.

What is the amount of gain recognized by the corporation on the distribution?

a) $0,

b) $40,000,

c) $70,000,

d) $140,000 or

e) None of the above.

Reference no: EM131736063

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What is the amount of gain recognized by the corporation

Reference no: EM131736063

Reference no: EM131736063

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