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Chapter 20 homework (1)

# Chapter 20 homework (1) - Problem Question If the...

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Problem Question Answer 1 \$40,000; not recognized; recognized 2 \$150,000 \$250,000 3 \$100,000 4 All of; \$0 5 \$160,000; is 6 7 8 no gain; loss; \$10,000 9 neither gain nor loss neither gain nor loss \$310,000; \$510,000 \$420,000; \$25,000 If the distribution is a qualifying stock redemption, then for Hawk, the _____ loss is _______ on the non- liquidating distribution fo the land under section 311(a). As for Michele, her realized loss of \$15,000 is _______ on the qualifying stock redemption. If the distribution is a liquidating distribution, then the _______ loss realized by Hawk Corporation on the distribution of the land is ______. As for Michele, her \$15,000 loss is _________. Her basis in the land is ____________. \$40,000; allowed; recognized; \$210,000 Oriole Corporation would recognize long-term capital gain of_____________. If the land is, instead, subject to a liability of \$800,000, Oriole Corporation has a recognized long-term capital gain of _______ on the distribution. _______ of the loss realized is recognized upon distribution of the land. Crow Corporation may recognize ________ the loss realized on the distribution of the land. Crow's basis in the land will be________.

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Chapter 20 homework (1) - Problem Question If the...

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