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Business, 23.08.2021 21:30 carolinerosewillis

Under a divorce settlement, Joan transferred her 50% ownership of their personal residence to Jim. The joint basis of the residence was $200,000. At the time of the transfer, the property's fair market value was $300,000. What was Joan's recognized gain and Jim's basis for the residence

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Under a divorce settlement, Joan transferred her 50% ownership of their personal residence to Jim. T...
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