Prepare a tax memo indicating

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Reference no: EM13131795

Friedman, Inc., an S corporation, holds some highly appreciated land and inventory, and some marketable securities that have declined in value. it anticipates a sale of these assets and a complete liquidation of the company over the next two years. Arnold Schwartz, the CFO, calls you, asking how to treat these transactions. Prepare a tax memo indicating what you told Arnold in the phone conversation.

Reference no: EM13131795

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