A shareholder receives appreciated noncash property in a corporate distribution and assumes a liability attached to the

Question:

A shareholder receives appreciated noncash property in a corporate distribution and assumes a liability attached to the property. How does the liability assumption affect the amount of dividend reported in gross income?

Distribution
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... Dividend
A dividend is a distribution of a portion of company’s earnings, decided and managed by the company’s board of directors, and paid to the shareholders. Dividends are given on the shares. It is a token reward paid to the shareholders for their...

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