Solved

Lucinda Owns 1,100 Shares of Blackbird Corporation Stock at a Time

Question 11

Multiple Choice

Lucinda owns 1,100 shares of Blackbird Corporation stock at a time when Blackbird has 2,000 shares of stock outstanding. The remaining shareholders are unrelated to Lucinda. What is the minimum number of shares Blackbird must redeem from Lucinda so that the transaction will qualify as a disproportionate redemption?


A) 220
B) 393
C) 484
D) 880
E) None of the above

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Q6: Bristlebird Corporation (E & P of $700,000)

Q9: Robin Corporation distributes furniture (basis of $40,000?

Q10: Tungsten Corporation, a calendar year cash basis

Q13: Which of the following statements is correct

Q14: Kite Corporation, a calendar year taxpayer, has

Q15: Purple Corporation makes a property distribution to

Q36: Betty's adjusted gross estate is $18 million.

Q114: Under certain circumstances, a distribution can generate

Q131: If a distribution of stock rights is

Q133: A corporation borrows money to purchase State