OTIS, District Judge.
On January 20, 1920, the A. L. Davis Lumber Company sold all of its assets, in the same year liquidated, and was dissolved December 30, 1920. From the sale of its assets it realized a net gain of $54,045.01, reduced to money January 20, 1920. On January 30, 1920, a dividend in the amount of $60,000 was paid the stockholders. Of this amount $54,045.01 was the gain realized from the sale of assets on January 20, 1920.
1. If the $60,000...
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