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3 years ago

5

Grady exchanges qualified property, basis of $20,667 and fair market value of $24,800, for 60% of the stock of Eadie Corporation

. The other 40% of the stock is owned by Pedro, who acquired it five years ago.

1 answer:

Marina86 [1]3 years ago

3 0

Answer:

Built in gain is $4,133

Explanation:

FMV of property $24,800

Grady's tax basis in his property $20,667

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