28. A liquidation must be reported to the Internal Revenue Service on Form 966 A within...
28. A liquidation must be reported to the Internal Revenue Service on Form 966
A within 60 days of the adoption of a plan of liquidation.
B) that is filed with the national IRS office.
C) whether the shareholders' realized gain is recognized or not.
D) by the shareholders.
Homework Answers
Option C is correct i.e. whether the shareholders realized gain is recognised or not
Reason :-
Option A is wrong because it needs to be reported within 30 days of adoption.
Option B is wrong because it is filed in State IRS office.
Option D is wrong because it is reported by the corporation not by shareholders.
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28. A liquidation must be reported to the
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