Question: Dahl Corp. was organized and commenced operations in 2000. At December 31, 2010, Dahl had accumulated earnings and profits of $9,000 before dividend declaration and

Dahl Corp. was organized and commenced operations in 2000. At December 31, 2010, Dahl had accumulated earnings and profits of $9,000 before dividend declaration and distribution. On December 31, 2010, Dahl distributed cash of $9,000 and a vacant parcel of land to Green, Dahl’s only stockholder. At the date of distribution, the land had a basis of $5,000 and a fair market value of $40,000. What was Green’s taxable dividend income in 2010 from these distributions?

a. $ 9,000

b. $14,000

c. $44,000

d. $49,000

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