Hogg Corporation Distributes $30,000 to Its Sole Shareholder, Ima

question 50

Multiple Choice

Hogg Corporation distributes $30,000 to its sole shareholder, Ima. At the time of the distribution, Hogg's E&P is $14,000 and Ima's basis in her stock is $10,000. Ima's gain from this transaction is a

• A)$6,000 capital gain.
• B)$14,000 capital gain.
• C)$20,000 capital gain.
• D)$30,000 capital gain.

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Definitions:

B Cells

A type of white blood cell that plays a significant role in the immune response by producing antibodies to neutralize pathogens.

IgA Antibodies

Immunoglobulin A antibodies, a type of antibody present in mucous membranes, playing a key role in mucosal immunity by neutralizing pathogens before they enter the body.

Breast Milk

Breast milk is the milk produced by the mammary glands of human females to feed their infants, providing essential nutrients and antibodies.

Adaptive Immunity

Adaptive immunity refers to the defense mechanisms in the body that are developed specifically against an antigen, including the production of antibodies and generation of memory lymphocytes.