If a distribution of stock rights is taxable and their fair market value is less than 15 percent of the value of the old stock, then either a zero basis or a portion of the old stock basis may be assigned to the rights at the shareholder’s option.
Answer the following statement true (T) or false (F)
False
Rationale: If the stock rights are taxable, then their basis is equal to their fair market value at distribution.
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If a company did not extend credit to customers:
A. gross profit would increase. B. gross revenue would increase. C. costs would increase but so would sales revenue. D. costs would decrease but so would sales revenue.
Lawyers and judges typically use analogies ________
A) to maximize costs for trials B) for critical legal reasoning C) as substitutes for the facts of the case D) to compare the facts of legal precedents to the facts of the case at hand
The most important determinant of perceptions of service quality among U.S. customers is reliability.
Answer the following statement true (T) or false (F)
By providing a basis for compromise, U.S. law provides for settlement prior to trial in:
A) 40 percent of all lawsuits. B) 77 percent of all lawsuits. C) 90 percent of all lawsuits. D) None of the above.