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Business, 21.06.2019 16:10 mmaglaya1

Larry owns 90 of the 100 outstanding shares of edp corporation. larry acquired the 90 shares in 2007 for $15,000. he also owns 70 of the 100 outstanding shares of edt corporation. larry acquired teh 70 shares in 2010 for 21000. on october 18, 2018, larry sold 25 shares of edt stock to edp corporation for $43000. edt and edp have current e& p in 2018 of $22,000 and 31,000 respectively. how will the sale be treated for federal income tax purposes?

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Larry owns 90 of the 100 outstanding shares of edp corporation. larry acquired the 90 shares in 2007...
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