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Digger corporation has $50,000 of current and accumulatedE&P. On March 1, Digger distributes land with a $30,000 FMV anda $17,500 adjusted basis to Dave, its
Digger corporation has $50,000 of current and accumulatedE&P. On March 1, Digger distributes land with a $30,000 FMV anda $17,500 adjusted basis to Dave, its sole shareholder. The land issubjec 2 answers
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