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Maple Corporation, a calendar - year corporation, was formed three years ago by its sole shareholder, Jian, who immediately elected S corporation status. On December
Maple Corporation, a calendaryear corporation, was formed three years ago by its sole shareholder, Jian, who immediately elected S corporation status. On December of the current year, Maple distributed $ cash to Jian.
What are the amount and character of gain Jian must recognize on the distribution in each of the following alternative scenarios?
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