Strickland Corporation redeems some of its stock from Wanda, a major shareholder. Before the redemption Wanda owns 90 of the 200 outstanding shares, and her daughter Shirley owns 80 shares. The remaining thirty shares are owned by unrelated individuals. Strickland redeems for $480,000 in cash 60 of Wanda's shares, having a $180,000 basis. Strickland has $700,000 of current and accumulated E&P. Wanda's basis in her remaining thirty shares is $90,000. Read the fequirements. Requirement a. What are the tax consequences of the redemption to Wanda? Wanda will recognize $ characterized as a because the redemption a. b. What are the tax consequences of the redemption to Wanda? What is Wanda's basis in her remaining thirty shares after her 60 shares are redeemed? How would your answers to Parts a and b change if Wanda and Shirley were not related? C. Strickland Corporation redeems some of its stock from Wanda, a major shareholder. Before the redemption Wanda owns 90 of the 200 outstanding shares, and her daughter Shirley owns 80 shares. The remaining thirty shares are owned by unrelated individuals. Strickland redeems for $480,000 in cash 60 of Wanda's shares, having a $180,000 basis. Strickland has $700,000 of current and accumulated E&P. Wanda's basis in her remaining thirty shares is $90,000. Read the fequirements. Requirement a. What are the tax consequences of the redemption to Wanda? Wanda will recognize $ characterized as a because the redemption a. b. What are the tax consequences of the redemption to Wanda? What is Wanda's basis in her remaining thirty shares after her 60 shares are redeemed? How would your answers to Parts a and b change if Wanda and Shirley were not related? C