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Problem 19-38 (LO. 1, 3) Complete the following schedule for each case. Assume that the shareholders have a sufficient basis in the stock investment. All
Problem 19-38 (LO. 1, 3)
Complete the following schedule for each case. Assume that the shareholders have a sufficient basis in the stock investment.
All distributions are made at year end (December 31) except for part (e). For part (e) assume the $130,000 distribution is made on June 30.
If amount is zero, enter "0".
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* The distribution of $130,000 is made on June 30 and the corporation uses the calendar year for tax purposes.
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