Question
BX is a 40% shareholder of CBA Corporation. She sells 50 shares of his stock to ABC for $100,000. Her basis in the shares sold
BX is a 40% shareholder of CBA Corporation. She sells 50 shares of his stock to ABC for $100,000. Her basis in the shares sold was $65,000. After the sale she owns 30% of CBA. How much income does BX recognize?
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Income Tax Fundamentals 2015
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven Gill
33rd Edition
9781305177772, 128543952X, 1305177770, 978-1285439525
