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Reg 2 > R4 > Flashcards

R4 Flashcards

1
Q

What is the NOL rule from 2018-2020?

A

Carried back 5 years and forward indefinitely

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2
Q

How does a shareholder recognize dividend income?

A

to the extent of cash received + FMV of noncash property received

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3
Q

What are 2 things that a personal holding company deducts in computing taxable income?

A

Federal income taxes

Net LTCG

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4
Q

What is a result in a liquidation - what is a result if FMV exceeds basis?

A

G/L

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Reg 2 (7 decks)

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