S Corporations Are Required to Recognize Both Gains and Losses

question 96

True/False

S corporations are required to recognize both gains and losses on nonliquidating distributions of property to shareholders.

---

Definitions:

Myocardial Infarction

A medical condition commonly known as a heart attack, occurring when blood flow to the heart is severely reduced or stopped, causing tissue damage.

Cerebrovascular Accident (CVA)

A medical term for a stroke, an event leading to brain damage caused by a change in the brain's blood flow or the rupture of blood vessels.

Syncope

A temporary loss of consciousness usually related to insufficient blood flow to the brain, often called fainting.

Hemorrhage

An excessive or uncontrolled bleeding, either internally or externally, due to ruptured blood vessels.