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Business, 27.06.2020 17:01 Madisonk2980

ABC Corporation distributes furniture (basis of $40,000; fair market value of $50,000) as a property dividend to its shareholders. The furniture is subject to a liability of $55,000. ABC Corporation recognizes gain of: $55,000 $15,000 $10,000 $0 none of the above

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ABC Corporation distributes furniture (basis of $40,000; fair market value of $50,000) as a property...
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