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(Solved): A corporation receives land with a basis of $32 and a fair market value of $ 61 in return for commo ...




A corporation receives land with a basis of \( \$ 32 \) and a fair market value of \( \$ \) 61 in return for common stock. Th
A corporation receives land with a basis of and a fair market value of 61 in return for common stock. The shareholder recognizes a gain of on the transfer. What is the corporation's basis in the land?


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ANSWERCorporation receives land with a bas
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