Luna received 100 shs of stock worth $500,000 and a $50,000 note from Moon Corp. in exchange

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Luna received 100 shs of stock worth $500,000 and a $50,000 note from Moon Corp. in exchange for contributing property with a FMV of $550,000 and an adjusted basis of $400,000. How much of the gain will Luna recognize

Posted Date: May 18, 2024 08:14 AM

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Luna received 100 shs of stock worth $500,000 and a $50,000 note from Moon Corp. in exchange

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