Biggain Corporation distributes land with a fair market value of $220,000 to its sole shareholder Biggain's tax basis in the land is $115,000 Biggain will not report a gain on the distribution if it has a deficit of over $105,000 in earnings and profits true or false

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Biggain Corporation distributes land with a fair market value of $220,000 to its sole shareholder  Biggain's tax basis in the land is $115,000  Biggain will not report a gain on the distribution if it has a deficit of over $105,000 in earnings and profits  true or false

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Biggain Corporation distributes land with a fair market value of $220,000 to its sole shareholder. Biggain's tax basis in the land is $115,000. Biggain will

Biggain Corporation distributes land with a fair market value of $220,000 to its sole shareholder. Biggain's tax basis in the land is $115,000. Biggain will not report a gain on the distribution if it has a deficit of over $105,000 in earnings and profits. true or false

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