Question 1 2.86 points Save Answer Boris owns 60 of the 100 shares outstanding of Bread Corporation stock and 80 of the 100 shares of Butter Corporation stock. His basis in the Broad shares is $10,000 and his basis in his Butter shares is $5,000. Boris sells 30 of his Bread Corporation shares to Butter Corporation for $25,000. Broad Corporation has E&P of $20,000 and Butter Corporation has E&P of $40,000. In applying the substantially disproportionate test to determine if this is a sale or a dividend, Boris is treated as owning how many shares of Bread after the sale? 60 shares 30 shares 80 shares 54 shares A corporation is required to file Form 966 within 30 days after the adoption of a plan of liquidation. True False If a liquidating subsidiary corporation primarily has loss property to distribute, the parent corporation should avoid Sec. 332 rules. follow Sec. 332 rules. follow Sec. 332 rules but avoid Sec. 337. none of the above