On September 1, 2014 Tina West transferred property worth $150,000 to Macum Corporation, a qualified small business
Question:
On September 1, 2014 Tina West transferred property worth $150,000 to Macum Corporation, a qualified small business corporation for Code Sec. 1202 purposes, in exchange for stock. The property had a basis of $100,000. On October 1, 2019, Tina sold her Macum stock for $230,000. As a result of the sale what is Tina's realized and recognized gain?
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To calculate Tinas realized and recognized gain from the sale of her Macum stock we need to determin...View the full answer
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Related Book For 
CCH Federal Taxation Basic Principles 2020
ISBN: 9780808051787
2020 Edition
Authors: Ephraim P. Smith, Philip J. Harmelink, James R. Hasselback
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