Sock and building basis after the redemption


Fred and his two sons owned 100% of the corporation. Fred owned 50% of the stock, but he had 25% redeemed by the corporation for a building with a basis of $10,000 and a value of $50,000. If E&P is $200,000 and Fred's basis in his stock before the redemption was $20,000, the stock and building basis after the redemption are?

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Accounting Basics: Sock and building basis after the redemption
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