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Business, 29.10.2021 14:00 feliciagraham14

Breslin Incorporated made a capital contribution of investment property to its 100-percent-owned subsidiary, Crisler Company. The investment property had a fair market value of $3,000,000 and a tax basis to Breslin of $2,225,000. a. What are the tax consequences to Breslin Incorporated on the contribution of the investment property to Crisler Company

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