Tanai2549 Tanai2549

03-01-2023
Business

Answered

Compendium corp. distributed cash and personal property to its sole shareholder. considering the following facts, what amount of gain would be recognized by compendium as a result of making this distribution to its shareholder? itemamountcash$25,000personal property: fair market value$10,000adjusted basis$4,000liability on property assumed by shareholder$12,000

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