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Problem 3 At the biginning of year 5 mith holds a stock basis of $30,000 in XV 5 corporation. Smith owns 100 percent stock of
Problem 3 At the biginning of year 5 mith holds a stock basis of $30,000 in XV 5 corporation. Smith owns 100 percent stock of the corporation. During the year XV reports the following items Determine Smith's stock basis at the end of year and treatment of distribution and acpital loss/
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