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Required information [The following information applies to the questions displayed below.] Hoosier Corporation declared a 2-for-1 stock split (shareholders received one share of stock for

Required information [The following information applies to the questions displayed below.] Hoosier Corporation declared a 2-for-1 stock split (shareholders received one share of stock for each share they already owned) to all shareholders of record on March 25 of this year. Hoosier reported current E&P of $600,000 and accumulated E&P of $3,000,000. The total fair market value of the stock distributed was $1,500,000. Barbara owned 1,000 shares of Hoosier stock with a tax basis of $100 per share. Note: Leave no answer blank. Enter zero if applicable. a. What amount of taxable dividend income, if any, does Barbara recognize this year? Assume the fair market value of the stock was $150 per share on March 25 of this year. Dividend

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