Question: Sandra and Renee each own 50 of the stock of
Sandra and Renee each own 50% of the stock of Olive, an S corporation. They acquired their stock four years ago when Olive was formed. They have decided to dispose of their ownership interests in the corporation, and a substantial gain will result. Sandra thinks they should sell their stock, whereas Renee thinks they should first liquidate the corporation and then sell the assets. Advise them on the con sequences of each approach.
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