C12-Chp-05-3-Div-Distributions-Code-Outline - Page 1 of 1...

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47bf574e6a49b24cd5e1cfe39ac3fc85baecb6d0.xls Page 1 of 1 Taxation of Corporate Distributions [Sec. 301-318, 336(b)] 1 301 a Distribution of property [§ 317(a)] is treated as described in subsection ( c) 6 b 1 Amount of distribution is money plus FMV of property 7 2 Amount of distribution is reduced by debt on property distributed 8 3 FMV is determined in date of distribution c If section 316(a) applies, 9 1 10 2 11 3 A If return of capital distribution exceeds basis, the excess is gain on sale. 12 d Basis is FMV for property received under §301(a) 317 What is Property (in a distribution under Sec. 301)? 2 317 a Property includes money, securities, other property, but not stock in the corp. 316 3 316 a Under this Subtitle, "dividend" means a distribution of property to shareholders 4 1
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