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Amy is the sole shareholder of Big Corporation. Amy has a $100,000 basis in her...

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Accounting

Amy is the sole shareholder of Big Corporation. Amy has a $100,000 basis in her Big Corp stock. Big Corp is struggling and Amy decides to liquidate the company. Big Corp sells all of its assets and distributes the cash to Amy. Amy receives $350,000 from Big Corp in the liquidation. How much gain does Amy recognize?

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