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Two years after a liquidation in which B, an individual, reported a $5,000 capital gain, B is required to pay $2,000 to settle a claim
Two years after a liquidation in which B, an individual, reported a $5,000 capital gain, B is required to pay $2,000 to settle a claim against the liquidated corporation.
What are the tax consequences to B in the Year he made the $2,000 payment?
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