Question: five shareholders each contribute 1 0 0 0 0 in exchange for a 2 0 % interest in corporate stock of fiu corporation. fifteen years

five shareholders each contribute

10000

in exchange for a

20 %

interest in corporate stock of fiu corporation. fifteen years later fiu corp enters into a plan of complete liquidation. under the plan fiu corporation sells the

30000

of assets for cash

(

basis of

50000

and fmv of

30000) .

fiu corp and then distributes the cash to the shareholders?

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