Vanguard Corporation has excess land that it distributes to its shareholders as a dividend. Each of the
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Vanguard Corporation has excess land that it distributes to its shareholders as a dividend. Each of the four shareholders gets a portion of the land valued at
$23,000 ($92,000 total value).The corporation’s basis for the land is $68,000.
What are the consequences to the corporation and the shareholders as a result of this distribution?
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Related Book For 
Taxation For Decision Makers 2008
ISBN: 9780324654110
2nd Edition
Authors: Shirley Dennis-Escoffier, Karen A. Fortin
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