Since 2006, ben has owned all 100 outstanding shares of n and m corporation's stock. ben's basis for the stock is $50,000. in 2017, n and m have earnings and profits of $100,000. the corporation redeemed 25 shares of ben's stock for $75,000 in 2017. how will ben report this?
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Home » Business » Since 2006, ben has owned all 100 outstanding shares of n and m corporation's stock. ben's basis for the stock is $50,000. in 2017, n and m have earnings and profits of $100,000. the corporation redeemed 25 shares of ben's stock for $75,000 in 2017.