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Required information [ The following information applies to the questions displayed below. ] Lone Star Company is a calendar - year corporation, and this year
Required information The following information applies to the questions displayed below. Lone Star Company is a calendaryear corporation, and this year Lone Star reported $ in current E&P that accrued evenly throughout the year. At the beginning of the year, Lone Star's accumulated E&P was $ Lone Star declared $ in cash distributions on each of the following dates: April July October and December Note: Leave no answer blank. Enter zero if applicable. Negative amount should be indicated by a minus sign. c If Matt's basis in the Lone Star shares was $ at the beginning of the year, how much capital gain will he recognize on the sale and distributions from Lone Star? Capital gain recognized on the sale and distribution
Required information
The following information applies to the questions displayed below.
Lone Star Company is a calendaryear corporation, and this year Lone Star reported $ in current E&P that accrued evenly throughout the year. At the beginning of the year, Lone Star's accumulated E&P was $ Lone Star declared $ in cash distributions on each of the following dates: April July October and December
Note: Leave no answer blank. Enter zero if applicable. Negative amount should be indicated by a minus sign.
c If Matt's basis in the Lone Star shares was $ at the beginning of the year, how much capital gain will he recognize on the sale and distributions from Lone Star?
Capital gain recognized on the sale and distribution
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