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Business, 22.08.2019 17:10 danielasena21

34. antoine transfers property with a tax basis of $536 and a fair market value of $655 to a corporation in exchange for stock with a fair market value of $572 in a transaction that qualifies for deferral under section 351. the corporation assumed a liability of $83 on the property transferred. what is antoine's tax basis in the stock received in the exchange?

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34. antoine transfers property with a tax basis of $536 and a fair market value of $655 to a corpora...
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