Business, 25.06.2019 20:40 kyrarix

Vogel, inc., an s corporation for five years, distributes a tract of land held as an investment to jamari, its majority shareholder. the land waspurchased for $45,000 ten years ago and is currently worth $120,000. a. as a result of the distribution, what is vogel’s recognized capital gain? how much is reported as a distribution to shareholders? b. what is the net effect of the distribution on vogel’s aaa? c. assume instead that the land had been purchased for $120,000 and was currently worth $45,000. how much would vogel recognize as a loss? what would be the net effect on vogel’s aaa? what would be jamari’s basis in the land?

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Vogel, inc., an s corporation for five years, distributes a tract of land held as an investment to j...

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