1. Black Corporation (E & P of $1,350,000) distributes land (basis of $423,000, fair market value of...

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1. Black Corporation (E & P of $1,350,000) distributes land (basis of $423,000, fair market value of $697,000) to Bailey Monroe, a shareholder, to carry out a qualifying stock redemption. Bailey M...

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1. Black Corporation (E & P of $1,350,000) distributes land (basis of $423,000, fair market value of...

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