19 - CHAPTER 19 CORPORATIONS: DISTRIBUTIONS IN COMPLETE...

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CHAPTER 19 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; Unchanged 2 applicability of § 267 3 Related-party loss limitation in complete liquidation; New disqualified property defined 4 Tax consequences to shareholder in complete Unchanged 4 liquidation; use of installment method to report gain 5 Liquidation of subsidiary; general requirements Unchanged 5 6 Tax consequences in liquidation of subsidiary Unchanged 6 when minority interest is involved 7 Liquidation of subsidiary; indebtedness to parent Unchanged 7 8 Liquidation of subsidiary; tax consequences to Modified 8 parent and subsidiary 9 Requirements for application of § 338 Unchanged 9 10 Tax consequences of a § 338 election Unchanged 10 11 Reason for decline in mergers Unchanged 11 12 Similarities of reorganizations and like-kind Unchanged 12 exchanges 13 Recognition and deferral of gain on reorganization Unchanged 13 14 Issue ID Unchanged 14 15 Liquidations and redemptions compared; recognition Unchanged 15 of losses by corporation and shareholder 16 Complete liquidation; distribution of property Modified 16 subject to liability 17 Complete liquidation; sale of loss property Unchanged 17 19-1
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19-2 2004 Comprehensive Volume/Solutions Manual Status: Q/P Question/ Present in Prior Problem Topic Edition Edition 18 Complete liquidation; sale of built-in loss property Unchanged 18 19 Complete liquidation; distribution of disqualified Unchanged 19 property to related parties 20 Complete liquidation; application of related-party Unchanged 20 loss limitation 21 Complete liquidation; disqualified and built-in Unchanged 21 loss property 22 Complete liquidation; tax consequences to Modified 22 shareholder when installment notes distributed 23 Liquidation of subsidiary; distribution of loss Unchanged 23 property to minority shareholder 24 Liquidation of subsidiary; indebtedness of Modified 24 subsidiary to parent 25 Liquidation of subsidiary; tax consequences to Unchanged 25 subsidiary and parent 26 Nonapplicability of § 332 to an insolvent subsidiary Unchanged 26 27 When not to make the § 338 election Unchanged 27 28 Nature of gain recognized by shareholder Unchanged 28 29 Effect on basis when gain recognized Unchanged 29 30 Gain recognition and basis computation Unchanged 30
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Corporations: Complete Liquidations and Reorganizations 19-3 CHECK FIGURES 15.a. 15.b. 16.a. 16.b. 17. 18. 19. 20. 21. 22. 23. Hawk no loss recognized; Michele no loss recognized and basis of $180,000 Hawk no loss recognized; Michele $40,000 loss recognized and basis of $180,000. $600,000 LTCG.
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19 - CHAPTER 19 CORPORATIONS: DISTRIBUTIONS IN COMPLETE...

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