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What would be the amount of double taxation

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Reference no: EM132700585

Case Issues

1. What would be the amount of 'double taxation" on the sale of the building and land for $280,000 assuming the after-tax proceeds from that sale are distributed to Ms. Carter as a dividend?

2. What would be the income tax consequences if Ms. Carter implements the four-step plan A?

3. What would be the income tax consequences if Ms. Carter implements the plan 8 over ten plus years?

4. What alternative plan would you recommend to Ms. Carter?

Secs. 1(j), 11, 61(a)(3), 301, 311, 312, 316, 453A, 1001, 1011, 1012, 1016, 1231, 1245, 1250, 1361, 1362, 1366, 1368, 1371, 1374, 1375 & 1377

Attachment:- Case 28C.rar

Reference no: EM132700585

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Reviews

len2700585

11/18/2020 3:08:36 AM

I need help with an advanced taxation case study. We need to use the IRS tax laws provided and analyze the 4 questions. The case has to do with a C-Corp wanting to become an S-Corp and this plan is not going to work by using the Sub-Chapter S Code Sections provided. Please see attached case and four Issues.

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