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Marie recelved Preferred Stock as a Non-Taxable Common Stock Dividend in 2022 from Ella Corporation. The value of the Preferred Stock when recelved by Marie was 540,000 and the value of the Common Stock owned by Marie was $20,000, Marie acquired the Common Stock in 2020 for $75,000 and Elia Corporation's Earnings And Profits (Es.P) Was $50,000 on the date of distribution of the Preferred Stock. Six (6) months after the receipt of the Preferred Stock Marie soid the Preferred Stock to an unrelated third party for 5120,000 . As a result of the sale of the Preferred Stock, Marie has Long-Term Captal Gain of $70,000. Ordinary income of $40,000 and a Tax.Free Retum Or Capital of $80,000 Ordinary income of $120,000. Ordinary Incomel of $40,000, a Tax-Free Retum Of Capital of $50,000 and a Long-Tem Capital Gain of $30,000