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oshua owns 100% of Sylvie Corporation. Joshuas basis in his stock is $8,000. Sylvie Corporation has $40,000 of E & P before it redeems any

oshua owns 100% of Sylvie Corporation. Joshuas basis in his stock is $8,000. Sylvie Corporation has $40,000 of E & P before it redeems any stock. If Sylvie Corporation redeems 60% of Joshuas stock for $50,000, how much dividend income must Joshua report on this transaction?

Group of answer choices

A. $0

B. $50,000

C. $8,000

D. $40,000

E. None of the above.

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