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JF distributes property with a fmv of $30,000 and a basis of $45,000 to Joe...

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Accounting

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JF distributes property with a fmv of $30,000 and a basis of $45,000 to Joe in a non-liquidating dividend. What will JF recognize as a result of this transaction? a $15,000 gain b. loss Oco QUESTION 11 Joe has 50 shares of JF co with a basis of $100/share. JF declares a 10% non-taxable stock dividend. The value of the shares is $400. What is Joe's income and basis per share ? a. Joe's income = $2,000; Basis/share = $100 O b. Joe's inccne - $500; Basis/share = $100 O c. Joe's income = $0; Basis/share = $90.91 d. Joe's income = $0; Basis/share = $100

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