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Business, 09.08.2019 01:30 kenz2797

El toro corporation declared a common stock distribution to all shareholders of record on june 30, 20x3. shareholders will receive 1 share of el toro stock for each 2 shares of stock they already own. raoul owns 400 shares of el toro stock with a tax basis of $69 per share. the fair market value of the el toro stock was $109 per share on june 30, 20x3. what are the tax consequences of the stock distribution to raoul?

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