The amount of a corporate distribution qualifying for capital recovery treatment which exceeds the shareholder-recipient's basis in the stock investment is treated as a capital gain
a. True
b. False
Indicate whether the statement is true or false
True
RATIONALE: The gain is treated as a capital gain. Ordinary gain treatment would result only if the recipient were a dealer (i.e., the stock is inventory).
Business
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Indicate whether the statement is true or false
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