Tanvir has been the sole shareholder of a calendar year S corporation since 1979.At the end of 2008,Tanvir's stock basis is $15,500,and he receives a distribution of $17,000.Corporate level accounts are computed as follows.

Calculate Tanvir's capital gain,if any.

Question

Tanvir has been the sole shareholder of a calendar year S corporation since 1979.At the end of 2008,Tanvir's stock basis is $15,500,and he receives a distribution of $17,000.Corporate level accounts are computed as follows.
  
Calculate Tanvir's capital gain,if any.

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The Answer of Tanvir has been the sole shareholder of a calendar year S corporation since 1979.At the end of 2008,Tanvir's stock basis is $15,500,and he receives a distribution of $17,000.Corporate level accounts are computed as follows.
  
Calculate Tanvir's capital gain,if any.

Tanvir Has Been the Sole Shareholder of a Calendar Year