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Business, 07.03.2020 00:29 Rogeartest4

During the current year, Goldfinch Corporation purchased 100% of the stock of Dove Corporation and made a qualified election under § 338. Which of the following statements is incorrect with respect to the § 338 election?
a) Dove is treated as a new corporation as of the day following the qualified stock purchase date.
b) Dove must be liquidated pursuant to the § 338 election.
c) Dove Corporation is treated as having sold its assets on the qualified stock purchase date.
d) Dove can recognize gain or loss as a result of the § 338 election.
e) None of the above.

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During the current year, Goldfinch Corporation purchased 100% of the stock of Dove Corporation and m...

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