In applying the Sec. 318 attribution rules to a stock redemption, the stock of a corporation is only deemed to be proportionately owned by the shareholder when the shareholder owns more than 50% of the corporate stock. This statement is True, correct?
In applying the Sec. 318 attribution rules to a stock redemption, the stock of a corporation is only deemed to be proportionately owned by the shareholder when the shareholder owns more than 50% of the corporate stock. This statement is True, correct?
Chapter1: Financial Statements And Business Decisions
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In applying the Sec. 318 attribution rules to a stock redemption, the stock of a corporation is only deemed to be proportionately owned by the shareholder when the shareholder owns more than 50% of the corporate stock. This statement is True, correct?
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Step 1
Sec 318 of US code is related with constructive ownership of stock. Under this section, an individual shall be considered as owning stock if he himself owns it or his spouse owns it or his children, grandchildren and parents owns it.
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