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What is T errys stock basis after the distribution

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Question Problem (a) Terry owns all of the stock of X. The stock's basis is $100. X has a total of current and accumulated earnings and pro?ts of $50. X distributes $200 cash to Terry with respect to the stock. How is the $200 taxed? What is T erry's stock basis after the distribution? Would your answer be any different if X distributes to Terry, Terry's note to X for $200 borrowed from X?

Reference no: EM132463259

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