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Author Question: Ezinne transfers land with an adjusted basis of $50,000 and a FMV of $95,000 to a new business in ... (Read 83 times)

robinn137

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on: Sep 13, 2020
Ezinne transfers land with an adjusted basis of $50,000 and a FMV of $95,000 to a new business in exchange for a 50% ownership interest. The land is subject to a $60,000 mortgage which the business will assume. The business has no other liabilities outstanding. Indicate the amount of gain recognized by Ezinne due to this exchange if the building is (1) a corporation and (2) a partnership. Assume Sec. 351 is satisfied in the case of the corporation and Sec. 721 is satisfied in the case of the partnership.
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Federal Taxation 2017 Individuals ¦ Pope, Rupert, Anderson ¦ 30th Edition
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Marked as best answer by robinn137 on Sep 13, 2020

dellikani2015

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Reply #1 on: Sep 13, 2020
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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robinn137

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Reply 2 on: Sep 13, 2020
Thanks for the timely response, appreciate it

aliotak

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Reply 3 on: Yesterday
Great answer, keep it coming :)

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