At the beginning of $2016,$ Daquan owns $100\%$ of the stock of Overalls Corp. His Basis in the stock is $5,000.$ On July $1,2016$ Daquan sells all his shares to Kiesha for

current year, Overalls Corp makes two distributions: $60,000$ on March $1$ to Daquan and $40,000$ on Sept $1$ to Kiesha. Calculate Dividends, Return of Capital and Ca$|$

following Fact PatternAt the beginning of $2016,$ Daquan owns $100\%$ of the stock of Overalls Corp. His Basis in the stock is $5,000.$ On July $1,2016$ Daquan sells all his shares to Kiesha for $$35,000.$ During the current year, Overalls Corp makes two distributions: $60,000$ on March $1$ to Daquan and $40,000$ on Sept $1$ to Kiesha. Calculate Dividends, Return of Capital and Capital Gain given the following Fact Pattern