Meredith purchased 30% of NIU Corporation, an S corporation, on September 30th this year. On December 1 of this year, NIU Corporation sells VOL stock that it had owned for three years and has a long-term capital gain of $17,000. What is the character of the gain that flows to Meredith?

Answer rating: 100% (QA)

As a shareholder of an S corporation Merediths share of the gai... View the full answer