Question
In 2017, X, a C corporation, adopted a plan of liquidation, calling for the sale of its 2 properties followed by the distribution of the
In 2017, X, a C corporation, adopted a plan of liquidation, calling for the sale of its 2 properties followed by the distribution of the proceeds to its sole shareholder A.
A has a stock basis in X of $12,000.
It sells property #1 in December 2017 and distributes $10,000 to A.
It sells property #2 in January 2018 and distributes $5,000 to A
What is the tax consequences to A of the distribution in December 2017?
What is the tax consequences to A of the distribution in January 2018?
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The Volunteers Audit Guide For Churches And Other Non Profits A Step By Step Workbook For Internal Reviews Of Non Profit Organizations
Authors: Edd Breeden
1st Edition
1079582401, 978-1079582406
