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Business, 19.12.2019 21:31 sillslola816oxb5h7

Senior corp. completely liquidates its 80%-owned subsidiary, junior corp. the liquidation results in a distribution to senior of property with a fair market value of $1,000,000 and an adjusted basis to junior of $400,000. how much gain will senior and junior each recognize on the transaction?

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Senior corp. completely liquidates its 80%-owned subsidiary, junior corp. the liquidation results in...

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