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What amount of income is allocated to robert?

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Question - Robert owns all the stock of Ulysses ?Corporation, an S corporation. Robert?'s basis for the? 1,000 shares is $255,000. On June 8 of the current year? (assume a? non-leap year), Robert gifts 100 shares of stock to his younger brother Ryan?, who has been working in the business for one year. Ulysses Corporation reports $250,000 of ordinary income for the current year. What amount of income is allocated to Robert?? To Ryan??

Reference no: EM133019166

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