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Preparing a corporate tax return form 1120 for a company

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Preparing a corporate tax return (Form 1120) for a company that made a property distribution (dividend) of three widgets the business used.

3 widgets have FMV of $20K each. The basis of each widget is Widget S = $27K, Widget T = $20K, and Widget U = $12K. The corporation asked for advice on preparing the Form 1120 based on this information given.

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