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Helen greg and wanda own the stock in hgw corporation with

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Helen, Greg, and Wanda own the stock in HGW Corporation with earnings and profits of $900,000 as follows: Helen, 600 shares; Greg, 400 shares; and Wanda, 1,000 shares. Greg is Helen's son, and Wanda is Helen's sister.. HGW Corporation redeems 400 of Helen's shares with a basis of $55,000 for $240,000. Helen purchased the stock three years ago as an investment.

Reference no: EM13574920

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