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safezone safezone
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7 years ago
Ralph transfers property with an adjusted basis of $65,000 and an FMV of $70,000 to Lake Corporation in a Sec. 351 transaction. Ralph receives stock worth $60,000 and a short-term note having a $10,000 FMV. Ralph's basis in the stock is
A) $75,000.
B) $70,000.
C) $65,000.
D) $60,000.
Textbook 
Prentice Hall's Federal Taxation 2014 Corporations, Partnerships, Estates & Trusts

Prentice Hall's Federal Taxation 2014 Corporations, Partnerships, Estates & Trusts


Edition: 27th
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That's not philosophy, it's geometry
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RimounRimoun
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safezone Author
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7 years ago
Smart ... Thanks!
big_larry_samp
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Yesterday
Thank you, thank you, thank you!
annielin111
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2 hours ago
Just got PERFECT on my quiz
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