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Old 03-12-2010, 10:20 AM
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taxes, dissolution family corporation

Last year, a family corporation dissolved. The owners--relatives--paid off its debts and distributed the balance, the equity, to the family shareholders, of which I was a non voting member. I received the shares as part of an inheritance from my mother back in the 1960s and don't know and doubt I'll be able to discover the share's cost/basis.
(1) Is the money I received last year from this dissolution ordinary income or capital gains?
(2) What IRS form/s do I report this received money on?
(3) Where specifically (what line/s) on this/these form/s do I report this money?
Thanks for any help,
Steve



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