Business, 25.10.2019 02:43 Ashleymsmith

The stock of cooper corporation is 70% owned by carole and 30% owned by carole's brother, chris. during 2017, chris transferred property (basis of $100,000 and fmv of $120,000) as a contribution to the capital of cooper. during february 2018, cooper adopted a plan of liquidation and subsequently made a pro rata distribution of the property back to carole and chris. at the time of the liquidation, the property had an fmv of $80,000. what amount of loss can be recognized by cooper on the distribution of property?

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The stock of cooper corporation is 70% owned by carole and 30% owned by carole's brother, chris. dur...