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

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On October 3, 2006, the Board of Directors of Saks, Inc.declared a "special cash dividend" of $4 per share payable on November 30, 2006 to shareholders of record as of November 15, 2006.Determine the tax status of this distribution to the shareholders using the company's website (http://www.aksincorporated.om/).