Question: $ 1 4 , 5 0 0 ) to each of its four equal shareholders ( aggregate distribution of $ 2 7 4 , 0

$14,500) to each of its four equal shareholders (aggregate distribution of $274,000). At the time of the distribution, Clampett, Incorpore has no corporate earnings and profits and J.D. has a basis of $53,800 in his Clampett, Incorporated, stock. How much total income doe J.D. recognize as a result of the distribution?
$ 1 4 , 5 0 0 ) to each of its four equal

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