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Sunset Corporation, with E & P of $282,600, makes a cash distribution of $84,780 to a shareholder. The shareholder's basis in the Sunset stock
Sunset Corporation, with E & P of $282,600, makes a cash distribution of $84,780 to a shareholder. The shareholder's basis in the Sunset stock involved is $33,912. a. Determine the tax consequences to the shareholder if the distribution is a nonqualified stock redemption. The shareholder has of $ b. Determine the tax consequences to the shareholder if the distribution is a qualifying stock redemption. The shareholder has of $ c. Determine the tax consequences to the shareholder if the distribution is pursuant to a complete liquidation of Sunset. The shareholder has of $
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