Sliver and Heirs, Inc, has several employees Their names and salaries are listed below: Heather-$470

Sliver and Heirs, Inc, has several employees Their names and salaries are listed below:
Heather-$470,000
Kyler-$100,000
Sophia-$100,000
Richard-$320,000
Kyler and Sophia are the only shareholders of Silver and Heirs, Inc Heather and Richard share equally in the management of the company’s operation Kyle and Sophia are both full-time college students at a university 500 miles away Silver has substantial E&P and has never distributed a dividend Discuss any problems related to Silver’s salary arrangement

Katsu Corp distributes property to its shareholders as part of a complete liquidaton The fair market
value of the property is $500,000, Katsuâ€s adjusted basis in the property is $150,000, and the
property is subject to a liability of $200,000 What amount of gain will Katsu recognize as a result of
the transacton?
a)$150,000
b)$300,000
c)$350,000
d)$550,000

 
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