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Tony and B Corporation each own 50 shares in X Corporation with a $1 a/b in each share. X Corporation has two divisions that it
Tony and B Corporation each own 50 shares in X Corporation with a $1 a/b in each share. X Corporation has two divisions that it has operated since 1990. In 2020, X corporation decides to cease operating Division #1 and distributes $25 to Tony and B corporation in redemption of one-half of their respective shares. What effect to Tony and B Corporation:
Tony: _____________________________________________
B Corporation: ______________________________________
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