McGraw-Hill's Taxation of Business Entities 3rd Edition by Connie Weaver, Brian Spilker, Edmund Outslay, John Robinson, Ronald Worsham, Benjamin Ayers, John Barrick

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Dividend means distribution of property out of current or accumulated profits by a corporation to its shareholders. Earnings and profits are the financial accounting retained earnings, although the computations can be significantly different. Regulations provide rules for determining the tax status of distributions from a taxable corporation to its shareholders. If the distribution of property is other than cash, then the
corporation will recognize gain, not loss on distribution.