Mnop inc. redeemed 100 shares of julias shares. the, Ask an Expert

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MNOP, Inc. redeemed 100 shares of Julia's shares. The redemption did not satisfy all the requirements and thus was treated as a dividend for tax purposes. Julia's basis in the 100 shares redeemed:

a. Disappears forever.
b. Transfers to her remaining shares in MNOP Inc.
c. Reduces her divdend income by her adjusted basis in the shares.
d. None of the above.

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