Shares of a corporation with a basis of $$15,000($common stock$)$ and a He receives a tax$-$free stock dividend of $50$ additional shares of prefer of $$40,000.$ stock?

ns $100$ shares in X Corp, which has a total of $400$ shares outstanding. If she shares redeemed, will the redemption qualify as a "sale" or be treated as a dividend? Show your calculations, please.

$13.$ Ned owns $50$ shares of $x$ corp. The remaining shares are owned as follows: Tom $($Ned$\text{'}$s father$),65$ shares; Estelle $($Ned$\text{'}$s wife$),85$ shares; Pete $($Estelle$\text{'}$s father$)22$ shares. And the ABC Partnership owns $300$ shares and Ned is a $25\%$ partner.

$($a$)$ How many shares in total is Ned treated as owning under the attribution rules?

$($b$)$ If Estelle is also a $10\%$ partner in ABC, how many more shares are attributed to Ned?

$14.$ The Tiptop partnership owns $120$ shares of $Z$ Corp. Laura owns $300$ shares of $Z$ Corp. and is a $20\%$ partner in Tiptop. Myles owns $90$ shares of $Z$ Corp. and is a $10\%$ partner in Tiptop. How many shares in total is the Tiptop partnership treated as owning in Z Corp?

$15.$ A corporation liquidates, distributing $$40,000$ in cash to its only shareholder $($Ellen$)$ and a machine in which its basis was $$10,000,$ value $$16,000.$ Ellen's basis in her stock was $$30,000.$

$($a$)$ How much gain or loss does Ellen recognize?

$($b$)$ How much gain or loss does the corporation recognize?

$($c$)$ What's Ellen's basis in the machine?