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can i have answers for the ones i missed xercise 22-21 (Algorithmic) (LO, 7) ogel, Inc., an S corporation for five years, distributes a tract
can i have answers for the ones i missed
xercise 22-21 (Algorithmic) (LO, 7) ogel, Inc., an S corporation for five years, distributes a tract of land held as an investment to Jamari, its majority shareholder. The fand as purchased for $78,600 ten years ago and is currently worth $196,500. an amount is zero, enter, "o". As a result of the distribution, what is Vogel's recognized capital gain? How much is reported as a distribution to shareholders? ogel recognizes of 4 which is reported on schedule K, and proportionate share of it passes through to the shareholders . . Jamari would take a 4 x basis in the What is the net effect of the distribution on Vogel's AAA? There is a net: on Voge's AAA. Assume instead that the fand had been purchased for $196,500 and was currently worth $78,600. How much would Vogel recognize as loss? What would be the net effect on Vogel's AAA? What would be Jamaris basis in the land? Jogel recognizes a loss 1 x and the net effect on Vogers AMA is would take a 1 basis in the land. Feedtach Fchech My wor When an S corporation distributes property (instead of Cash) to a shareholder, the effect on MA and shareholder's basis must be determined Step by Step Solution
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