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Augustus1 Augustus1
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7 years ago
Individuals Oprah and Ben form OB Corporation. Oprah transfers land and a building with a $550,000 adjusted basis and a $625,000 FMV in exchange for 50% of the stock of the OB Corporation worth $610,000 and a $15,000 note. Bert transfers equipment with a $590,000 adjusted basis and a $625,000 FMV for 50% of the stock worth $610,000 and a note of the OB Corporation valued at $15,000. Oprah's basis in the stock received is
A) $550,000.
B) $560,000.
C) $610,000.
D) $625,000.
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Prentice Hall's Federal Taxation: 2011: Individuals

Prentice Hall's Federal Taxation: 2011: Individuals


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

Prentice Hall's Federal Taxation by Kramer
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Yoko900Yoko900
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7 years ago
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Augustus1 Author
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#2
7 years ago
You're a saint, honestly

Thank you
We do not judge the people we love.

Prentice Hall's Federal Taxation by Kramer
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