A transfers $50,000 cash in exchange for 50 shares of NewCo stock.B transfers investment land with a
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Question:
A transfers $50,000 cash in exchange for 50 shares of NewCo stock.B transfers investment land with a basis of $10,000 and a FMV of $50,000 in exchange for 40 shares of NewCo stock and $10,000 cash.
What is A and B's individual realized and recognized gain and their individual basis in NewCo Stock?
Related Book For
Federal Taxation 2015 Comprehensive
ISBN: 9780133807783
28th Edition
Authors: Thomas R. Pope, Timothy J. Rupert, Kenneth E. Anderson
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