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This year Santhosh purchased 1,000 shares of Cain common stock for $12 per share. At year-end, the Cain shares were worth $32 per share. What
This year Santhosh purchased 1,000 shares of Cain common stock for $12 per share. At year-end, the Cain shares were worth $32 per share. What amount must Santhosh include in income this year? Multiple Choice $12,000 $20,000 $32,000 Santhosh can deduct $12,000 because his cost is a return of capital
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