Black corporation executes a stock redemption. The corporation distributes land basis of $$160,000$ and fair market value $$600,000$ to a shareholder.

Discuss the tax consequences to Black Corporation.

Same figures as in above for Black, except that the land is subject to a liability of $$660,000.$ Discuss the tax consequences to Black Corp.  

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Tax Consequences to Black Corporation without liability 1 Stock Redemption When a corporation distributes property including land to a shareholder in ... View the full answer