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Business, 19.12.2019 19:31 giraffegurl
Katsu corp. distributes property to its shareholders as part of a complete liquidation. the fair market value of the property is $500,000, katsu's adjusted basis in the property is $150,000, and the property is subject to a liability of $200,000. what amount of gain will katsu recognize as a result of the transaction?
a. $150,000
b. $550,000
c. $300,000
d. $350,000
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Katsu corp. distributes property to its shareholders as part of a complete liquidation. the fair mar...
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