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What is the tax impact to a C corporation or an S corporation when it...

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Question

Accounting

What is the tax impact to a C corporation or an S corporation when it makes a (noncash) property distribution to a shareholder?

Multiple Choice

  • Recognizes either gain or loss.

  • Does not recognize gain or loss.

  • Recognizes gain but not loss.

  • Recognizes loss only.

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