Which of the following statements is correct with respect to the § 338 election? a. None of the above. b. The parent recognizes

Question

3 years ago

7

Which of the following statements is correct with respect to the § 338 election? a. None of the above. b. The parent recognizes

no gain (loss) as a result of the election. c. Gain, but not loss, is recognized by the subsidiary as a result of a deemed sale of its assets. d. A qualified stock purchase occurs when a corporation acquires, in a taxable transaction, at least 80% of the stock (voting power and value) of another corporation within an18-month period. e. The subsidiary corporation makes the § 338 election.

Social Studies

1 answer:

Anastaziya [24] · Answer 1 · 2022-01-27T01:10:20+03:00

Anastaziya [24]3 years ago

6 0

Answer:

I have no clue to be honest but if I had to guess, I would say B or D but not sure. I think I have had this question before but I could not find it so if it is wrong don't come for me I am not sure!!!

Explanation:

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