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A owns 100 shares purchased years ago of Humdrum Corp for $10,000 Humdrum has $12,000 AE&P What are the tax consequences if A receives $10,000
A owns 100 shares purchased years ago of Humdrum Corp for $10,000
Humdrum has $12,000 AE&P
What are the tax consequences if A receives $10,000 in the current year and $10,000 in year two? Would there be any problem if Humdrum does not adopt a formal plan of complete liquidation in year one?
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