1) Rim. Inc. , which had earnigns and profits of 100,000, distributed and to Alex Rowe, a...
Fantastic news! We've Found the answer you've been seeking!
Question:
1) Rim. Inc. , which had earnigns and profits of 100,000, distributed and to Alex Rowe, a stockholder Pym's adjusted basis for this land was $3,000. The land had a fair market value of 12,000 and was subjet to a mortgage liability of 5,00, which was asuumed by Rowe. How much of the distribution was taxable to Rowe as a dividend??
2)Al A. owned 100% of the common stock of Taxa Corporation. During 2014, when it earnings and profits were $3,500, Tara issued preferred stock worth $5,000 as a nontaxable stock dividend to Alvin. In 2015, when Tara's earning and profits were $5,000, Alvin sold the preferred stock to an unrelated person for $ 5,000. What amount of dividend income is recognized by Alvin on the sale of the preferred stock?
Related Book For
Posted Date: