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(Solved): At the beginning of the year, Myrna Corporation (a calendar year taxpayer) has E 8.9 of 332,000 . Th ...



At the beginning of the year, Myrna Corporation (a calendar year taxpayer) has E 8.9 of 332,000 . The corporation generates no additional E Q. P during the year, On December 31, the corporation distributes

$50,000

to its sole shareholder, Abby, whose stock basis is 510,000 . How Is the distribution treated for tax purposes? If an amount is zero, enter "0". As a result the dietribution Abby has the following: Dividend income:

Return of capital:

Capital gain: 1

Stock basis after the digtribution:



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