Noah is the sole shareholder of Ark Corporation. This year, Noah contributed Ark stock with a value of $100,000 to his Alma Mater, State University. Prior to the contribution, State University agreed, in writing, that it would tender the shares to Ark for redemption for cash. Although Noah is entitled to a charitable contribution deduction for the contribution, he is also treated as receiving a constructive dividend equal to the redemption amount. True / False

Answer rating: 100% (QA)

Answer False Redemption value is the price at which the iss... View the full answer