Joe owns 40 percent of the stock of AD Corporation’s 2,000 outstanding shares. If Joe sells some stock back to the corporation, what is the maximum percentage of ownership that Joe can have of the outstanding stock after the sale to qualify for capital gain treatment rather than having dividend income?

Answer rating: 100% (QA)

Answer 319 Outstanding company shares 2000 Joe shares 40 of 2000 company shares 800 Interest insider ... View the full answer