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Discussion Question 6-8 (LO. 1, 2) Tammy and Barry formed Pheasant Corporation several years ago in a transaction that qualified under 351. Both shareholders serve
Discussion Question 6-8 (LO. 1, 2) Tammy and Barry formed Pheasant Corporation several years ago in a transaction that qualified under 351. Both shareholders serve as officers and on the board of directors of Pheasant. In the current year, Pheasant Corporation redeemed all of Barry's shares in the corporation with a property distribution. Help Barry and Pheasant by classifying each of the following as a "Tax issue" or "Not an issue" regarding the stock redemption for property distribution
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