Tammy and Willy own 40 of the stock of Roadrunner
Tammy and Willy own 40% of the stock of Roadrunner, an S corporation. The other 60% is owned by 99 other shareholders, all of whom are single and unrelated.
Tammy and Willy have agreed to a divorce and are in the process of negotiating a property settlement. Identify the relevant tax issues for Tammy and Willy.
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