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Title: An S corporation distributes land with a basis of $60,000 and a FMV of $90,000 to its shareholders. ... Post by: Sheena Maskell on Jan 11, 2017 An S corporation distributes land with a basis of $60,000 and a FMV of $90,000 to its shareholders. The tax results of the distribution will be
A) no gain to the corporation or to the shareholders. B) $30,000 of gain recognized by the S corporation and no pass through to the shareholders. C) no gain recognized by the corporation but $30,000 of gain recognized by the shareholders. D) $30,000 of gain recognized by the S corporation which is passed through to the shareholders. Title: Re: An S corporation distributes land with a basis of $60,000 and a FMV of $90,000 to its ... Post by: MsLippy on Jan 11, 2017 Content hidden
Title: Re: An S corporation distributes land with a basis of $60,000 and a FMV of $90,000 to its shareholders. ... Post by: Sheena Maskell on Mar 20, 2017 Really helped
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