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6 Points Yellow Corporation elects S status, effective for calendar year 2020. Yellow's only asset has a basis of $100.400 and a fair market value
6 Points Yellow Corporation elects S status, effective for calendar year 2020. Yellow's only asset has a basis of $100.400 and a fair market value of $220,800 as of January 1, 2020. The asset is sold at the end of 2020 for $261,600. What amount must Bird Big, a 60% owner, report as flow-thru income
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