Answered
Valarie owns 100% of Green Company.Green has earnings and profits of $10,000.The corporation distributes property with a basis of $9,000 and a FMV of $12,000 to Valarie.She must report dividend income of:
A) $2,000.
B) $9,000.
C) $10,000.
D) $12,000.
On Sep 23, 2024