30 Hubert receives a nontaxable stock dividend of 100 shares of preferred stock (fair marke Owl Corporation, at a time when Owl's E&P is $900,000. As a result of the stock dividen $30.000 of his common stock basis to the preferred stock. Two years after the stock disa stock to Tomas, an unrelated party, for $250,000. Owl's E & P at the time of the sale is 70 tax consequences to Hubert with respect to the sale of the preferred stock? stock (fair market value of $300,000) from the stock dividend, Hubert properly allocates vears after the stock dividend, Hubert sells the preferred e of the sale is $700,000. What are the income 30 Hubert receives a nontaxable stock dividend of 100 shares of preferred stock (fair marke Owl Corporation, at a time when Owl's E&P is $900,000. As a result of the stock dividen $30.000 of his common stock basis to the preferred stock. Two years after the stock disa stock to Tomas, an unrelated party, for $250,000. Owl's E & P at the time of the sale is 70 tax consequences to Hubert with respect to the sale of the preferred stock? stock (fair market value of $300,000) from the stock dividend, Hubert properly allocates vears after the stock dividend, Hubert sells the preferred e of the sale is $700,000. What are the income