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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.

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Answer #1

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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