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Lilac has a gain of $145,000 and Greta"s basis in the distributed property is $130,000. Lilac has a gain of $15,000 and Greta has dividend income of...
B. Lilac has a gain of $145,000 and Greta"s basis in the distributed property is $130,000. A. Lilac has a gain of $15,000 and Greta has dividend income of $250,000. With respect to the distribution, which of the following statements is correct? A. Lilac has a gain of $15,000 and Greta has dividend income of $250,000. B. Lilac has a gain of $145,000 and Greta"s basis in the distributed property is $130,000. C. Lilac has a gain of $130,000 and Greta"s basis in the distributed property is $250,000. D. Lilac has a gain of $145,000 and Greta has dividend income of $130,000. E. None of the above.
