Code Sections-MC2- Non liquidating distributions Flashcards Preview

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Flashcards in Code Sections-MC2- Non liquidating distributions Deck (19):
1

301

treatment to shareholders
distributions of property-applies if 302 does not

2

301 (a)

treatment to shareholders
reference to 301(c)

3

301 (b)

treatment to shareholders
amount distributed: Cash + FMV- Liabilities

4

301 (c)

treatment to shareholder
amount taxable
(1) dividend
(2) return of capital
(3) capital gain

5

301 (d)

treatment to shareholders
basis of distributed property (FMV)

6

301 (e)

treatment to shareholders
Special E&P rule for distributions to 20% owned corporate shareholders

7

311

taxability to distributing corporation

8

311 (a)

taxability to distributing corporation
no loss recognized on the distribution of cash or depreciated( in value) property

9

311 (b)

taxability to distributing corporation
gain recognized on the distribution of appreciated (in value) property

10

312

effect on earnings and profits

11

312 (a)

effect on earnings and profits
general rule: Reduction of E&P for distributions

12

312 (b)

effect on earnings and profits
distributions of appreciated property

13

312 (c)

effect on earnings and profits
adjustments for liabilities

14

312 (d)

effect on earnings and profits
stock distributions

15

312 (f)

effect on earnings and profits
effect of gains, losses, and nontaxable distributions

16

312 (k)

effect on earnings and profits
effect of depreciation

17

312 (n)

effect on earnings and profits
adjustments to accurately reflect economic gain or loss

18

316 (a)

dividend defined- General rule: distribution a dividend to the extent of E&P

19

317

other definitions
(a) property
(b) redemption of stock