Corporation P has 1,000 shares of stock outstanding. T owns 700 shares of the P...
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Accounting
Corporation P has 1,000 shares of stock outstanding. T owns 700 shares of the P stock and G owns 300 shares of the P stock. In a single and isolated redemption to which section 301 applies, the corporation redeems 150 shares of T's stock.
Taxable event to G: ___________ Yes; ___________ No
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