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Business, 22.01.2020 01:31 Sk8terkaylee

Swan corporation makes a property distribution on 12/31/13 to its sole shareholder, matthew. the property distributed is a cottage (fair market value of $200,000; basis of $150,000) that is subject to a $35,000 mortgage that matthew assumes. before considering the consequences of the distribution, swan’s current e & p is $300,000 and its accumulated e & p is 100,000. swan makes no other distributions during the current year.

what is swan’s taxable gain on the distribution of the cottage?

what is swan's current e& p after the distribution on 12/31/13?

what is the taxable dividend to the shareholder (if any)?

what is the shareholder's basis in hte cottage?

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Swan corporation makes a property distribution on 12/31/13 to its sole shareholder, matthew. the pro...
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