Silver Corporation Redeems All of Alluvia's 3,000 Shares and Distributes

question 48

Multiple Choice

Silver Corporation redeems all of Alluvia's 3,000 shares and distributes to her 1,000 shares of Gold Corporation stock plus $20,000 cash.Alluvia's basis in her 30% interest in Silver is $80,000 and the stock's market value is $120,000.At the time Silver is acquired by Gold,the accumulated earnings and profits of Silver are $100,000 and Gold's are $50,000.How does Alluvia treat this transaction for tax purposes?

• A)No gain is recognized by Alluvia in this reorganization.
• B)Alluvia reports a $20,000 recognized dividend.
• C)Alluvia reports a $20,000 recognized capital gain.
• D)Alluvia reports a $15,000 recognized dividend and a $5,000 capital gain.
• E)None of the above.

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Definitions:

Humanitarian Benefits

Positive impacts or aid provided to individuals or communities in crisis, aimed at saving lives, alleviating suffering, and maintaining human dignity.

Ethical Rule

Guidelines or principles designed to guide conduct or decision-making in moral or ethical dilemmas.

Informed Consent

A process by which participants are fully informed about the procedures and risks involved in a research before agreeing to participate.

Principle Investigator

The lead researcher responsible for the oversight, design, and execution of a research project.