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Business, 10.11.2019 04:31 joshajgaa

Clampett, inc. has been an s corporation since its inception. on july 15, 2019, clampett, inc. distributed $40,500 to j. d. his basis in his clampett, inc. stock on january 1, 2019, was $35,000. for 2019, j. d. was allocated $12,000 of ordinary income from clampett, inc. and no separately stated items. how much capital gain does j. d. recognize related to clampett, inc. in 2019? a. $40,500.b. $12,000.c. none of the choices are correct. d. $52,500.e. $24,000.

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Clampett, inc. has been an s corporation since its inception. on july 15, 2019, clampett, inc. distr...
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