Fox Corp, owned 2,000 shares of Duffy Corp, stock that it bought in year 0 for $9
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Fox Corp, owned 2,000 shares of Duffy Corp, stock that it bought in year 0 for $9 per share. In year 8, when the fair market value of the Duffy stock was $20 per share. Fox distributed this stock to a non-corporate shareholder. Fox’s recognized gain on this distribution was:
a. $40,000
b. $22,000
c. $18,000
d. $0
The word "distribution" has several meanings in the financial world, most of them pertaining to the payment of assets from a fund, account, or individual security to an investor or beneficiary. Retirement account distributions are among the most...
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Related Book For 
South-Western Federal Taxation 2019 Comprehensive
ISBN: 9781337703017
42th Edition
Authors: David M. Maloney, William A. Raabe, William H. Hoffman, James C. Young
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