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Title: Jack has a basis of $36,000 in his 1,000 shares of Acorn Corporation stock (a capital asset). The ... Post by: safezone on Feb 14, 2017 Jack has a basis of $36,000 in his 1,000 shares of Acorn Corporation stock (a capital asset). The stock was acquired three years ago. He receives the following distributions as part of a plan of liquidation of Acorn Corporation:
Date Amount March 31 of 2009 $10,000 July 15 of 2009 10,000 November 15 of 2010 10,000 January 15 of 2010 10,000 What are the amount and character of the gain or loss that Jack will recognize during 2009? During 2010? Title: Re: Jack has a basis of $36,000 in his 1,000 shares of Acorn Corporation stock (a capital asset). ... Post by: strwbrry on Feb 14, 2017 Content hidden
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