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Compute his basis in shares at year-end

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Question - At the beginning of the year, Mr. Olsen paid $15 per share for 780 shares of Carmel common stock. He received cash distributions totaling $1,220. His Form 1099 reported that $860 was a qualified dividend and $360 was a nontaxable distribution. Compute his basis in his 780 shares at year-end.

Reference no: EM132574548

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