Corp. X has 400 common shares outstanding. A, B, C, & D all unrelated each own 100 shares. X redeems 55 shares from A; 25 from B; 20 from C. How is A taxed on the distribution? (1 – 3 words) _______________________________ Give specific Code Section. §__________ How is B taxed on the distribution (1 – 3 words) _______________________________ Give Code Section(s). §____________

Corp. X has 400 common shares outstanding. A, B, C, & D all unrelated each own 100 shares. X redeems 55 shares from A; 25 from B; 20 from C. How is A taxed on the distribution? (1 – 3 words) ___________ Give specific Code Section. § How is B taxed on the distribution (1 – 3 words) _ Give Code Section(s). §

SWFT Individual Income Taxes

43rd Edition

ISBN:9780357391365

Author:YOUNG

Publisher:YOUNG

Chapter20: Corporations And Parterships

Section: Chapter Questions

Problem 42P

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