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Samantha owns stock in Pigeon Corporation (basis of $80,000) as an investment.Pigeon distributes property (fair market value of $300,000; basis of $150,000) to her during the year.Pigeon has current E & P of $20,000 and accumulated E & P of $80,000 and makes no other distributions during the year.What is Samantha's capital gain on the distribution?
Accounting Standards
Rules and guidelines established by authoritative bodies that govern how financial transactions and events are reported in financial statements.
IASB
The International Accounting Standards Board, responsible for developing and issuing International Financial Reporting Standards (IFRS).
Fair Value Measurement
Fair value measurement is the process of estimating the price at which an asset or liability could be exchanged in an orderly transaction between market participants at the measurement date.
Valuation Techniques
Methods applied to estimate the fair value of assets and liabilities, which can include market, income, and cost approaches.
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