Sanchez died in 2021 with an Adjusted Gross Estate of $800,000. Sanchez's Gross Estate included stock in Osbourne Corporation of $220,000. Sanchez had purchased the stock in Osbourne Corporation in 1995 for $40,000. The Death Taxes and Funeral And Administrative Expenses for Sanchez's estate totaled $160,000. The executor of Sanchez's estate redeemed (sold back to Osbourne Corporation) all of the stock of Osbourne Corporation for $220,000. As a result of this transaction, Sanchez's estate has a Taxable Dividend of: (Assume that Sanchez's estate does not qualify for any redemption under Section 302(b) and that Osbourne Corporation has substantial Earnings And Profits (E&P))? $ -0-. $ 60,000. $220,000. $180,000. QUESTION 16 Charla received Preferred Stock as a Nontaxable Common Stock Dividend in 2021 from Marisa Corporation. The value of the Preferred Stock when received by Charla was $30,000 and the value of the Common Stock was $20,000. Charla acquired the Common Stock in 2020 for $60,000 and Marisa Corporation's Earnings And Profits (E&P) was $50,000 on the date of distribution of the Preferred Stock. Six (6) months after the receipt of the Preferred Stock, Charla sold "all" of her stock (Common Stock and Preferred Stock) to an unrelated third party for $100,000. The Ordinary Income for Charla as a result of the sale of the all of the stock (Common Stock and Preferred Stock) is: $40,000. $30,000. $60,000. $ -0- Sanchez died in 2021 with an Adjusted Gross Estate of $800,000. Sanchez's Gross Estate included stock in Osbourne Corporation of $220,000. Sanchez had purchased the stock in Osbourne Corporation in 1995 for $40,000. The Death Taxes and Funeral And Administrative Expenses for Sanchez's estate totaled $160,000. The executor of Sanchez's estate redeemed (sold back to Osbourne Corporation) all of the stock of Osbourne Corporation for $220,000. As a result of this transaction, Sanchez's estate has a Taxable Dividend of: (Assume that Sanchez's estate does not qualify for any redemption under Section 302(b) and that Osbourne Corporation has substantial Earnings And Profits (E&P))? $ -0-. $ 60,000. $220,000. $180,000. QUESTION 16 Charla received Preferred Stock as a Nontaxable Common Stock Dividend in 2021 from Marisa Corporation. The value of the Preferred Stock when received by Charla was $30,000 and the value of the Common Stock was $20,000. Charla acquired the Common Stock in 2020 for $60,000 and Marisa Corporation's Earnings And Profits (E&P) was $50,000 on the date of distribution of the Preferred Stock. Six (6) months after the receipt of the Preferred Stock, Charla sold "all" of her stock (Common Stock and Preferred Stock) to an unrelated third party for $100,000. The Ordinary Income for Charla as a result of the sale of the all of the stock (Common Stock and Preferred Stock) is: $40,000. $30,000. $60,000. $ -0-