{ "key_pair_value_system": true, "answer_rating_count": "", "question_feedback_html": { "html_star": "", "html_star_feedback": "" }, "answer_average_rating_value": "", "answer_date_js": "2024-06-06T11:29:38-04:00", "answer_date": "2024-06-06 11:29:38", "is_docs_available": "", "is_excel_available": "", "is_pdf_available": "", "count_file_available": 0, "main_page": "student_question_view", "question_id": "2362341", "url": "\/study-help\/questions\/cougar-company-is-owned-equally-by-cat-stevens-and-a-2362341", "question_creation_date_js": "2024-06-06T11:29:38-04:00", "question_creation_date": "Jun 06, 2024 11:29 AM", "meta_title": "[Solved] Cougar Company is owned equally by Cat St | SolutionInn", "meta_description": "Answer of - Cougar Company is owned equally by Cat Stevens and a partnership that is owned equally by his father and two unrelated | SolutionInn", "meta_keywords": "cougar,company,owned,equally,cat,stevens,partnership,father,two,unrelated,individuals,owns", "question_title_h1": "Cougar Company is owned equally by Cat Stevens and a partnership that is owned equally by his father and two unrelated individuals. Cat and the", "question_title": "Cougar Company is owned equally by Cat Stevens and a partnership that", "question_title_for_js_snippet": "Cougar Company is owned equally by Cat Stevens and a partnership that is owned equally by his father and two unrelated individuals Cat and the partnership each owns 3,000 shares in the company Cat wants to reduce his ownership in the company, and it is decided that the company will redeem 1,500 of his shares for $25,000 per share Cat's tax basis in each share is $5,000 What are the income tax consequences to Cat as a result of the stock redemption, assuming the company has earnings and profits of $10 million (Enter your answers in dollars not in millions ) Dividend Answer is complete but not entirely correct $ 67 Tax free return on capital $ 0 Capital gains from sale of stock $37,500,000", "question_description": "\"image Cougar Company is owned equally by Cat Stevens and a partnership that is owned equally by his father and two unrelated individuals. Cat and the partnership each owns 3,000 shares in the company. Cat wants to reduce his ownership in the company, and it is decided that the company will redeem 1,500 of his shares for $25,000 per share. Cat's tax basis in each share is $5,000. What are the income tax consequences to Cat as a result of the stock redemption, assuming the company has earnings and profits of $10 million? (Enter your answers in dollars not in millions.) Dividend Answer is complete but not entirely correct. $ 67 Tax free return on capital $ 0 Capital gains from sale of stock $37,500,000", "transcribed_text": "", "related_book": { "title": "Contemporary Mathematics", "isbn": "1711470554, 978-1711470559", "edition": "1st Edition", "authors": "OpenStax", "cover_image": "https:\/\/dsd5zvtm8ll6.cloudfront.net\/si.question.images\/book_images\/64d470aca1d44_40187.jpg", "uri": "\/textbooks\/contemporary-mathematics-1st-edition-9781711470559", "see_more_uri": "\/textbooks\/sciences-biology-343" }, "free_related_book": { "isbn": "9350710064", "uri": "\/textbooks\/cost-accounting-paperback-mar-06-2012-m-ravi-kishore-1st-edition-978-9350710067-342820", "name": "Cost Accounting Paperback Mar 06 2012 M Ravi Kishore", "edition": "1st Edition" }, "question_posted": "2024-06-06 11:29:38", "see_more_questions_link": "\/study-help\/questions\/business-general-management-2023-February-20", "step_by_step_answer": "The Answer is in the image, click to view ...", "students_also_viewed": [ { "url": "\/in-figure-if-we-had-only-the-data-from-1980", "description": "In Figure, if we had only the data from 1980 to 2012 to go on, what would we conclude about the relationship between the nominal money supply and real GDP? 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