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Title: Dusty Corporation owns 90% of Palace Corporation's stock and Susan owns the remaining stock. Dusty ... Post by: Mandarini on Feb 14, 2017 Dusty Corporation owns 90% of Palace Corporation's stock and Susan owns the remaining stock. Dusty Corporation's stock basis is $300,000 and Susan's stock basis is $20,000. Under a plan of complete liquidation, Dusty Corporation receives property with a $400,000 adjusted basis and a $540,000 FMV and Susan receives property with a $20,000 adjusted basis and a $60,000 FMV. The bases of the properties are:
A) Dusty Susan $300,000 $20,000 B) Dusty Susan $400,000 $20,000 C) Dusty Susan $400,000 $60,000 D) Dusty Susan $540,000 $60,000 Title: Re: Dusty Corporation owns 90% of Palace Corporation's stock and Susan owns the remaining stock. ... Post by: strwbrry on Feb 14, 2017 Content hidden
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