Bonnie and clyde are the only two shareholders in getaway

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Bonnie and Clyde are the only two shareholders in Getaway Corporation. Bonnie owns 60 shares with a basis of $6,000, and Clyde owns the remaining 40 shares with a basis of $12,000. At year-end, Getaway is considering different alternatives for redeeming some shares of stock. Evaluate whether each of the following stock redemption transactions will qualify for sale and exchange treatment. (Round your answers to the nearest whole number.)

Getaway redeems 34 of Bonnie's shares for $12,000. Getaway has $26,000 of E&P at year-end and Bonnie is unrelated to Clyde.

Capital Gain is?

Reference no: EM13587227

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