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Title: The assets of Bold Corporation have a $1,000,000 basis and a $3,000,000 FMV. Its liabilities are ... Post by: Mandarini on Feb 14, 2017 The assets of Bold Corporation have a $1,000,000 basis and a $3,000,000 FMV. Its liabilities are $500,000. Tidel Corporation acquires 80% of the Bold Corporation stock for $2,000,000. What gain is recognized by Bold Corporation if a timely Sec. 338 election is made by Tidel Corporation? What is the total basis of the assets to Bold Corporation following the deemed sale? Assume a 34% corporate tax rate.
Title: Re: The assets of Bold Corporation have a $1,000,000 basis and a $3,000,000 FMV. Its liabilities are ... Post by: strwbrry on Feb 14, 2017 Content hidden
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