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Al and Ruth each own one-half the stock of Chemical Corp an S corp during the current year (assume a non leap year)chemical earns 15,000
Al and Ruth each own one-half the stock of Chemical Corp an S corp during the current year (assume a non leap year)chemical earns 15,000 per month of ordinary income, on april 5 ruth sells her entire stock interest to Patty the corp sells a business asset on aug 18 and relies a 75000 sec 1231 gain. what alternatives if any exist for allocating chemical s current year income?
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