Henry emmy and frannie unrelated individuals own all of the

Reference no: EM13574917

Henry, Emmy, and Frannie, unrelated individuals, own all of the stock in New Corporation with earnings and profits of $1,200,000 as follows: Henry own 1,300 shares; Emmy owns 400 shares; and Frannie owns 300 shares. New Corporation redeems 300 of Henry's shares with a basis of $60,000 for $450,000. With respect to the distribution in redemption of the stock.

Reference no: EM13574917

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Henry emmy and frannie unrelated individuals own all of the

Reference no: EM13574917

Reference no: EM13574917

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