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Business, 31.07.2020 01:01 laskew37221

At the end of the tax year, DHG Corp, always an S corporation, made a liquidating distribution of long-term capital gain property to Sue, a 40% shareholder in DHG. The property has a fair market value of $50,000 and DHG's basis in the property is $30,000. Sue's basis in DHG is $8,000 before the distribution. What are DHG's and Sue's gain or loss on the liquidating distribution

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At the end of the tax year, DHG Corp, always an S corporation, made a liquidating distribution of lo...
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