Geneva Corporation,a privately-held company,has one class of voting common stock,of which 1,000 shares are issued and outstanding.The shares are owned as follows:
Madison has a 20 percent interest in the partnership.The remaining 80 percent is owned by unrelated individuals.Madison owns 40% of Packer Corporation.The other 60 percent is owned by her father.
How many shares of stock is Madison deemed to own under the family attribution rules in a stock redemption?

Question

Geneva Corporation,a privately-held company,has one class of voting common stock,of which 1,000 shares are issued and outstanding.The shares are owned as follows:
  Madison has a 20 percent interest in the partnership.The remaining 80 percent is owned by unrelated individuals.Madison owns 40% of Packer Corporation.The other 60 percent is owned by her father.
How many shares of stock is Madison deemed to own under the family attribution rules in a stock redemption?

Quizplus · Accepted Answer

The Answer of Geneva Corporation,a privately-held company,has one class of voting common stock,of which 1,000 shares are issued and outstanding.The shares are owned as follows:
  Madison has a 20 percent interest in the partnership.The remaining 80 percent is owned by unrelated individuals.Madison owns 40% of Packer Corporation.The other 60 percent is owned by her father.
How many shares of stock is Madison deemed to own under the family attribution rules in a stock redemption?

Geneva Corporation,a Privately-Held Company,has One Class of Voting Common Stock,of