微信扫一扫
实时资讯全掌握
Tank Corp., which had earnings and profits of $500,000, made a nonliquidating distribution of property to its shareholders in Year 1 as a dividend in kind. This property, which had an adjusted basis of $20,000 and a fair market value of $30,000 at the date of distribution, did not constitute assets used in the active conduct of Tank's business. How much gain did Tank recognize on this distribution?
|