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Sheena Maskell Sheena Maskell
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7 years ago
An S corporation distributes land to its shareholders. The land has a $60,000 basis and a $90,000 FMV. The basis of the land to the shareholders is
A) $0.
B) $30,000.
C) $60,000.
D) $90,000.
Textbook 
Prentice Hall's Federal Taxation: 2011: Individuals

Prentice Hall's Federal Taxation: 2011: Individuals


Edition: 14th
Authors:
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MsLippyMsLippy
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7 years ago
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Sheena M. Author
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#2
7 years ago
I took a chance with your answer

It was right
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