Business, 17.01.2020 05:31 goeringwilliam6974
Peter jones has owned all 100 shares of trenton corporation stock for the past five years. this year, mary smith contributes property with a $50,000 basis and an $80,000 fmv for 80 newly issued trenton shares. at the same time, peter contributes $15,000 in cash for 15 newly issued trenton shares. what tax issues regarding the exchanges should mary and peter consider?
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Peter jones has owned all 100 shares of trenton corporation stock for the past five years. this year...
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