Comp SM_Ch20 - CHAPTER 20 CORPORATIONS: DISTRIBUTIONS IN...

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Unformatted text preview: CHAPTER 20 CORPORATIONS: DISTRIBUTIONS IN COMPLETE LIQUIDATION AND AN OVERVIEW OF REORGANIZATIONS SOLUTIONS TO PROBLEM MATERIALS Status: Q/P Question/ Present in Prior Problem Topic Edition Edition 1 Corporate liquidation for tax purposes Unchanged 1 2 Liquidations and redemptions compared: recognition of gain or loss by distributing corporation New 3 Related-party loss limitation in complete liquidation: disqualified property defined Unchanged 3 4 Built-in loss limitation: tax avoidance purpose explained New 5 Tax consequences to shareholder in complete liquidation: use of installment method to report gain Unchanged 4 6 Liquidation of subsidiary: general requirements Unchanged 5 7 Tax consequences in liquidation of subsidiary when minority interest is involved Modified 6 8 Liquidation of subsidiary: indebtedness to parent Unchanged 7 9 Liquidation of subsidiary: tax consequences to parent and subsidiary Unchanged 8 10 Requirements for application of 338 Unchanged 9 11 Tax consequences of a 338 election Unchanged 10 12 Reason for decline in mergers Unchanged 11 13 Treatment of taxable reorganization gains New 14 General requirements for reorganizations New 15 Issue ID Unchanged 14 16 Liquidations and redemptions compared: recognition of gain by corporation and loss by shareholder Modified 15 17 Complete liquidation: distribution of property subject to liability Unchanged 16 20-1 20-2 2005 Comprehensive Volume/Solutions Manual Status: Q/P Question/ Present in Prior Problem Topic Edition Edition 1 Corporate liquidation for tax purposes Unchanged 1 2 Liquidations and redemptions compared: recognition of gain or loss by distributing corporation New 3 Related-party loss limitation in complete liquidation: disqualified property defined Unchanged 3 18 Related-party loss limitation: pro rata distribution of disqualified property New 19 Built-in loss limitation: no tax avoidance purpose New 20 Built-in loss limitation: tax avoidance purpose New 21 Complete liquidation: application of related-party loss limitation Unchanged 20 22 Complete liquidation: disqualified and built-in loss property Unchanged 21 23 Complete liquidation: tax consequences to shareholder when installment notes distributed Unchanged 22 24 Liquidation of subsidiary: distribution of gain property to minority shareholder Modified 23 25 Liquidation of subsidiary: indebtedness of subsidiary to parent Unchanged 24 26 Liquidation of subsidiary: tax consequences to subsidiary and parent Modified 25 27 Nonapplicability of 332 to an insolvent subsidiary Unchanged 26 28 When not to make the 338 election Unchanged 27 29 Gain taxable as dividend and capital New 30 Effect on basis when gain recognized Unchanged 29 31 Gain recognition and basis computation Modified 30 Research Problem 1 Determination of complete liquidation status Unchanged 2 Shareholder receipt of post-liquidation proceeds New 3 Internet activity New Corporations: Complete Liquidations and Reorganizations 20-3 CHECK FIGURES...
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This note was uploaded on 03/14/2010 for the course ACC 11101 taught by Professor Sun during the Spring '10 term at Abraham Baldwin Agricultural College.

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Comp SM_Ch20 - CHAPTER 20 CORPORATIONS: DISTRIBUTIONS IN...

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