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Business, 06.03.2020 23:55 Geo777

ROBERTA transfers property with a tax basis of $400 and a fair market value of $500 to a corporation in exchange for stock with a fair market value of $350 in a transaction that qualifies for deferral under section 351. The corporation assumed a liability of $150 on the property transferred. What is the amount realized by Roberta in the exchange? A. $500 B. $400 C. $350 D. $250

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ROBERTA transfers property with a tax basis of $400 and a fair market value of $500 to a corporation...
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