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Jack and Jill are owners of UpAHill, an S Corporation. They own 2 5 and 7 5 percent, respectively. a . What amount of ordinary
Jack and Jill are owners of UpAHill, an S Corporation. They own and percent, respectively.
a What amount of ordinary income and separately stated items are allocated to them for years and based on the information
above? Assume that UpAHill Corporation has $ of qualified property unadjusted basis in both years.
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