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What the distribution in redemption of the stock

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Problem 1: Harry, Emily, and Fred, unrelated individuals, own all of the stock in Warren Corporation (E & P of $1.2 million) as follows: Harry, 1,500 shares; Emily, 300 shares; and Fred, 200 shares. Warren redeems 900 of Harry's shares (basis of $210,000) for $625,000. With respect to the distribution in redemption of the stock

Reference no: EM132831298

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