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During the year, Marcus, the sole shareholder of a calendar year S corporation, received a distribution of $ 1 6 , 0 0 0 .
During the year, Marcus, the sole shareholder of a calendar year S corporation, received a distribution of $ At the end of last year, his stock basis was $ The corporation earned $ ordinary income during the year. It holds a zero balance in accumulated E & P Which statement is correct?
a Marcus's stock basis is $
b Marcus recognizes a $ LTCG
c Marcus's taxfree return of capital is $
d Marcus's ordinary income is $
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