ACC-317-Homework-Ch-19

Apr 29th, 2015
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30. The dividend income will be subject to the 15% tax rates. Each shareholder’s stock is reduced by $20,000 with any excess being treated as capital gain. Therefore, Pam will reduce her stock basis to zero and will have a taxable gain of $8,000 and Jon reduces his stock basis to $6,000 with no income tax consequences.

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Leah PasternakFederal Taxation ACC317Chapter 19: Corporations: Distributions Not in Complete LiquidationHomework Submission30. The dividend income will be subject to the 15% tax rates. Each shareholders stock is reduced by$20,000 with any excess being treated as capital gain. Therefore,

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