Business, 19.12.2019 03:31 stuckonquestions

Since 2008, ben has owned all 100 outstanding shares of n and m corporation’s stock. ben’s basis for the stock is $50,000. in 2019, n and m have earnings and profits of $100,000. the corporation redeemed 25 shares of ben’s stock for $75,000 in 2019. how will ben report this?

a. $75,000 dividend. b. $75,000 gain. c. $50,000 gain. d. none of the above

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Since 2008, ben has owned all 100 outstanding shares of n and m corporation’s stock. ben’s basis for...

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