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Augustus1 Augustus1
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7 years ago
Individuals Julie and Brandon form JB Corporation. Julie transfers land and a building with a $350,000 adjusted basis and a $425,000 FMV in exchange for 50% of the stock of the JB Corporation worth $410,000 and a $15,000 note. Brandon transfers equipment with a $390,000 adjusted basis and a $425,000 FMV for 50% of the stock worth $410,000 and a note of the JB Corporation valued at $15,000. Brandon's basis in the stock received is
A) $350,000.
B) $390,000.
C) $410,000.
D) $425,000.
Textbook 
Prentice Hall's Federal Taxation: 2011: Individuals

Prentice Hall's Federal Taxation: 2011: Individuals


Edition: 14th
Authors:
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We do not judge the people we love.

Prentice Hall's Federal Taxation by Kramer
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MsLippyMsLippy
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Augustus1 Author
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#2
7 years ago
I'm forever indebted to you!

THANKS
We do not judge the people we love.

Prentice Hall's Federal Taxation by Kramer
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