Question
What is the federal corporate tax rate?
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Answer
A flat 21%.
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Question
How do corporate capital losses differ from individual capital losses?
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Answer
They offset only capital gains; no $3,000 ordinary offset.
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Question
When does a distribution become a return of capital?
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Answer
After E&P is exhausted, up to the shareholder's stock basis.
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Question
Why can a corporation recognize gain on a property distribution but not loss?
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Answer
The property is treated as sold at FMV for gain recognition only.
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