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CompTIA PDI+ Exam Prep

Category - Enrolled Agent

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The board of directors of Walden Corporation authorized a year end distribution to its three shareholders. Each distribution would be equal in value but the shareholder could choose to receive the distribution in cash or corporate stock. If a shareholder chose to receive corporate stock, the distribution should be treated as:

A tax free distribution of stock
A distribution of property
A like-kind exchange
None of the above

Explanation

Answer: B - A distribution of property.

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