Blue Corporation Distributes Land and Building Having a $70,000 Adjusted

question 247

Multiple Choice

Blue Corporation distributes land and building having a $70,000 adjusted basis and a $200,000 FMV to its sole shareholder, Marina. Blue has current and accumulated E&P exceeding $200,000. The property is subject to a $120,000 mortgage, which Marina assumes. What is the amount of the taxable dividend received by Marina?

• A) $70,000
• B) $130,000
• C) $80,000
• D) $0

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Body Mass Index

Body Mass Index (BMI) is a numerical value derived from a person's weight and height, used as an indicator of whether they have a healthy body weight for their height.

Normal Weight

A weight classification based on body mass index (BMI) that is considered within the healthy range for a person's height.

Body Mass Index

A numerical measurement calculated from height and weight that is used to assess whether a person is underweight, normal weight, overweight, or obese.