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Global Corporation distributed property with an $ 2 1 3 , 0 0 0 fair market value and a $ 1 1 7 , 1
Global Corporation distributed property with an $ fair market value and a $ adjusted basis to one of its shareholders. The property was subject to a $ mortgage, which the shareholder assumed. Global has ample E & P to cover any distribution made during the year.
What is the amount of the shareholder's dividend income on the distribution?
$fill in the blank
What is the shareholder's basis in the property received?
$fill in the blank
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