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QUESTION
Bebop.Inc,distributes investment property to its shareholder. The property was required five years ago and has a basis of $ 50000 and a market value...
Bebop.Inc,distributes investment property to its shareholder. The property was required five years ago and has a basis of $ 50000 and a market value of $ 80000. How will this distribution be treated for tax purpose at both the corporate and shareholder level if Bebop is a C corporation?
