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Under a plan of complete liquidation, key corporation distributes land (not a disqualified property) with an adjusted basis of $410,000 and an fmv of $300,000 for all sharon's stock. sharon's basis in her 5% interest in the key stock is $250,000. find sharon's basis in the land and key corporation's recognized gain or loss.
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Under a plan of complete liquidation, key corporation distributes land (not a disqualified property)...
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