Business, 28.11.2019 05:31 samanthahurtado0914

Rayburn owns all the shares of newcastle corporation, which operates as an s corporation. rayburn's basis in the stock is $15,000. during the year, he receives a cash distribution of $22,000 from newcastle. what must rayburn and newcastle report as income from the cash distribution?

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Rayburn owns all the shares of newcastle corporation, which operates as an s corporation. rayburn's...

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