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Parent Corporation owns 70% of Sam Corporation's single class of stock. This year, Parent ...

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Parent Corporation owns 70% of Sam Corporation's single class of stock. This year, Parent ...

Parent Corporation owns 70% of Sam Corporation's single class of stock. This year, Parent Corporation purchases for cash the remaining 30% of Sam Corporation's stock from four individual investors pursuant to a tender offer. A plan of liquidation is approved by Sam Corporation's shareholders during the last month of this year, and Sam Corporation's assets are distributed by year-end to Parent Corporation in exchange for all of Sam's outstanding stock. Parent Corporation should
A) not recognize any gains and losses on the redemption.
B) recognize gains and losses on the redemption.
C) recognize gains but not losses on the redemption.
D) recognize losses but not gains on the redemption.

Textbook

Prentice Hall's Federal Taxation 2014 Corporations, Partnerships, Estates & Trusts

Edition: 27^th

Authors: Anderson, Pope, Rupert

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That's not philosophy, it's geometry

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safezone Author

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Good timing, thanks!

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