Shepherd corporation had earnings and profits of $500,000 before distributions. due to economic conditions, shepherd, in partial liquidation, distributed land having an adjusted basis of $67,500 and a fair market value of $75,000 to ms. rinnie for 95% of her interest in shepherd. ms. rinnie’s adjusted basis in the stock at the time of the distribution was $90,000. what is the amount of shepherd corporation’s recognized gain or loss?

Aminor has the legal right to repudiate

Acorporation a. can use different depreciation methods for tax and financial reporting purposes b. must use the straight - line depreciation method for tax purposes and double declining depreciation method financial reporting purposes c. must use different depreciation method for tax purposes, but strictly mandated depreciation methods for financial reporting purposes d. can use straight- line depreciation method for tax purposes and macrs depreciation method financial reporting purposes

Which plan offers a tax-free education?