Question: 1) If property is distributed to a shareholder as a dividend, the dividend is equal to the propertys fair market value. True or False 2)

1) If property is distributed to a shareholder as a dividend, the dividend is equal to the propertys fair market value.

True or False

2) Gregorious incs adjusted taxable income is $100,000 for 2017 and $200,000 for 2018. Gregorious makes charitable contributions of $15,000 in 2017 and $19,000 in 2018. How much can Gregorious carry forward for its charitable contributions in computing its 2019 taxable income?

		$9,000
		$5,000
		$4,000
		$1,000

Oliver received a $25,000 distribution from BC Corporation that the corporation identified as $15,000 dividend and $10,000 return of capital. What effect does this distribution have on Olivers taxable income if his basis in the stock of BC is $8,000?

		Increase of $25,000
		Increase of $17,000
		Increase of $15,000
		Increase of $10,000

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