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Z is a corporation owned entirely by two individuals, C and D. C owns 60 shares of Z, D owns 40 shares of Z. D

Z is a corporation owned entirely by two individuals, C and D. C owns 60 shares of Z, D owns 40 shares of Z. D has an option to buy 21shares from Z.

a. D is considered as owning 61 shares of Z for purposes of 318 and 302 calculations regarding D

b. D is not considered by the IRS as owning 21 shares of Z for purposes of 302 and 318 calculations for C

c. A and B

d. None of the above

Explain why you chose your option please

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