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How many shares of corporation a does the taxpayer treat

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Reference no: EM133185907

Question - A taxpayer owns 40 shares of Corporation A and is a 20% partner of a partnership that also owns 40 shares of the corporation. The other 80% of the partnership is owned by the taxpayer's neighbors, who are unrelated to the taxpayer.

How many shares of Corporation A does the taxpayer treat as owning directly and indirectly through the partnership?

A. 40

B. 48

C. 72

D. 80

Reference no: EM133185907

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