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Bebop Inc./*(Bebop Partnership) distributes investment property to its shareholder. The property was required five years ago and has a basis of...
Bebop Inc./*(Bebop Partnership) distributes investment property to its shareholder. The property was required five years ago and has a basis of $50,000 and a market value of $80,000. How will this distribution be treated for tax purposes at both the corporate/*(partnership) and shareholder/*(partner) level if Bebop is a C corporation? S Corporation? *Partnership?