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Business, 29.11.2019 02:31 edybuza764

Horace sells equipment with an adjusted basis of $20,000 to his great-grandson, matthew, for its fair market value of $15,000. matthew sells the equipment to an unrelated party for $17,000. what are matthew’s realized and recognized gains (losses) upon the sale?

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Horace sells equipment with an adjusted basis of $20,000 to his great-grandson, matthew, for its fai...

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