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Stan owned 500 shares of Bulldog Inc. (S corporation) on January 1, 2020. His stock basis was $5,000 ($10/share). He sold 300 shares on April
Stan owned 500 shares of Bulldog Inc. (S corporation) on January 1, 2020. His stock basis was $5,000 ($10/share). He sold 300 shares on April 1, 2020 for $4,500 ($15/share). Bulldogs income for 2020 was $750,000. During the year, Bulldog had 2,500 shares outstanding. It made no distributions during the year and has no accumulated earnings & profits. Calculate the total amount of income/gain recognized by Stan with respect to his investment in Bulldog Inc
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