Corporation distributes property with a basis of $40,000, FMV of $50,000 and subject to a liability of $55,000 to its shareholders. Assuming no other limiting information, Corporation recognizes...

1.

Extracted text: Corporation distributes property with a basis of $40,000, FMV of $50,000 and subject to a liability of $55,000 to its shareholders. Assuming no other limiting information, Corporation recognizes gain/(loss) of: O $15,000 O $55,000. O $0. O $10,000. O No response is correct. O ($5.000). Question 6 On January 1. a corporation has accumulated E & Pof $300.000. During the year, they incur a net loss of S 420.000 from operations that acerues ratably throughout the year. On July 1, the corporation distributes $180.000 to its sole shareholder witha stock basis of $112.500. How much of the $180.000 is a dividend? O $112.500 O S0 O No response is correct O $90.000 O $240.000 O $180.000