ACC-317-Homework-Ch-20

Apr 30th, 2015
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20.Mulberry Corporation cannot recognize any of the realized loss of $75,000 since both shareholders are related parties and own 100% of the stock of Mulberry. Also, the land was transferred to the Mulberry Corporation within the five-year before the liquidation took effect. Because of this, the related-party loss limitation applies to the distribution of the land. Sincedisqualified property was distributed to related parties, is does not matter that the distribution is considered pro rata.

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Leah PasternakFederal Taxation ACC317Chapter 20: Corporations: Distributions in Complete Liquidation and an Overview of Reorganization Homework Submission20. Mulberry Corporation cannot recognize any of the realized loss of $75,000 since both shareholders are related parties and own 100% of the stock of Mulberry. Also, the land was transferred to theMulberry Corporation within the five-year before the liquidation took effect. Because of this, the related-party loss limitation applies to the distribution of the land. Since disqualified property was distributed to related parties

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