(3 points) On May 15, the board of directors of Cloud Corporation declares a $10...
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(3 points) On May 15, the board of directors of Cloud Corporation declares a $10 per share dividend. The dividend is payable or May 30 to shareholders of record on May 25. As of May 15. Victor owns 100 shares of Cloud stock. On May 20, Victories 100 shares of Cloud Corporation to Lily as a gift. When Lily collects the dividend on May 30, who must include the dividend in gross income
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