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9. What is Alexanders net gain or loss on the liquidation of his 100% interest in an S corporation if the corporation distributes the following
9. What is Alexanders net gain or loss on the liquidation of his 100% interest in an S corporation if the corporation distributes the following three assets to him in exchange for his stock? Prior to any distributions, Alexanders basis in his S corporation interest was $160,000. (Points : 3) 1. ($12,000) 2. ($22,000) 3. $10,000 4. $22,000 5. None of the above
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