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Question 9 9 Clompett, Incorporated, has been an Scorporation since its inception. On Jwy 15, 2021. Clampett Incorporated, distributed $55,000 to JD. His basis in
Question 9
9 Clompett, Incorporated, has been an Scorporation since its inception. On Jwy 15, 2021. Clampett Incorporated, distributed $55,000 to JD. His basis in his Clampett, incorporated stock on January 1 2021, was $31000. For 2021. J.D was allocated $10.500 of ordinary income from Clampett. Incorporated, and no separately stated items. How much capital gain does J.D. recognize related to Ciampott. Incorporated in 2021 Multiple Choice door $65.500 O $55.000 a $20.500 50500 None of the choices are correct Step by Step Solution
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