Solution-What is the shareholders basis in the property

What is the shareholders basis in the property received

Reference no: EM132460194

Global Corporation distributed property with an $180,000 fair market value and a $99,000 adjusted basis to one of its shareholders. The property was subject to a $54,450 mortgage, which the shareholder assumed. Global has ample E & P to cover any distribution made during the year.

Question 1: What is the amount of the shareholder's dividend income on the distribution?

$__________

Question 2: What is the shareholder's basis in the property received?

$__________

Reference no: EM132460194

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What is the shareholders basis in the property received

Reference no: EM132460194

Reference no: EM132460194

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