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Business, 23.03.2021 05:30 rfvelasco

ire Corporation distributes property (basis of $225,000, fair market value of $300,000) to a shareholder in a distribution that is a qualifying stock redemption. The property is subject to a liability of $160,000 that the shareholder assumes. Determine the basis of the property to the shareholder.

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ire Corporation distributes property (basis of $225,000, fair market value of $300,000) to a shareho...

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