Workbook1 Flashcards
1
Q
Type b reorganizations are
A
The acquisition of one corp of another corporations stock–stock for stock basis and not a taxable transaction
2
Q
How are the filing fees, professional fees, and other expenditures incurred in connection with the liquidation and dissolution treated in regards to tax for a cooperation
A
The corporation generally deducts its liquidation expenses (i.e., filing fees, professional fees) on its final tax return.
11
Q
d. $8,600
A
A. I chose B. We need to remember that the excess of organizational costs is amortized over 180 months. Then multiplied by the number of months in the year and added to the max of $5,000
