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Kathy is the sole shareholder of an S corporation in Boston, MA. At a time when her stock basis is $20,000, the corporation distributes to
Kathy is the sole shareholder of an S corporation in Boston, MA. At a time when her stock basis is $20,000, the corporation distributes to her appreciated property worth $100,000 (basis of $20,000). A) What is Kathy's taxable income? B) What is Kathy's stock basis after the distribution of propert
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