PLEASE NEED HELP ASAP!!

1. The Big Corp declared a 4 for 1 stock split on Jan 20, Y1. Big Corp had net taxable earnings in Y1 of 3 Million, and Accumulated E&P of 1 Million. (Assume for this question taxable income and Current Year E&P are the same) The fair market value of the stock distributed was 2 Million dollars. Jim owned 543 shares of Big Corp before the stock split was declared, with a basis of $20 PER SHARE. What amount does Jim recognize as dividend income. Assume the stock was trading at $120 before the split and $30 after the split.

2.

The Big Corp declared a 4 for 1 stock split on Jan 20, Y1. Big Corp had net taxable earnings in Y1 of 3 Million, and Accumulated E&P of 1 Million. (Assume for this question taxable income and Current Year E&P are the same) The fair market value of the stock distributed was 2 Million dollars. Jim owned 755 shares of Big Corp before the stock split was declared, with a basis of $692 PER SHARE.

What amount does Jim recognize as dividend income. Assume the stock was trading at $120 before the split and $30 after the split.

3.

The Small Corp reports current year E&P of $100,000. They have Accumulated E&P of $100,000. They distributed $350,000 to the sole shareholder Jim. Jim's tax basis in his Small Corp stock was $10,000 prior to the distribution.

Jim will report as a dividend.

Jim will report as capital gain

Jim will have a basis of in his stock after the distribution

Small corp will have an accumulated E&P of at the start of next year.

4.

Mike and Jim decide to form a C-Corp. Mike contributes inventory with a FVM of $100,000 in return for 90% of the company stock. Mike's tax basis in the inventory is $50,000. Jim contributes his legal services for the formation with a FMV of $5,000 in return for 10% of the company stock.

Mike will recognize of income in the transaction

Mike will realize of income in the transaction

Jim will recognize of income in the transaction

Jim will realize of income in the transaction

5.

One year after Sam and Jim form Small Corp, Tom would like to join the company as an owner. Before Tom joins, Sam owns 75% of the stock with a FMV of $750,000 and Jim 25% with a FMV of $250,000. Tom is going to contribute land with a FMV of 100,000 to the corporation in return for a 10% share in the company. (Reducing Sam to 70% and Jim to 20%)

Explain hHow can Sam, Tom and Jim work together to ensure section 351 Treatment of Toms property contribution?

6. Explain how "hot assets" affect the character of gain when sellingg a partnership interest.

7.

Gwen owns 20% of the Elder Care Partnership ("ECP")

The partnership has the following items of income and expenses:

Sales : 350

Interest Income : 953

Wages : 583

Utilities : 155

How much ordinary business income/loss will Gwen report from ECP?

8. Under what circumstances can a stock dividend be a taxable event to the recipient?