Determine the likely tax effects, Taxation

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Determine the likely tax effects

Problem: Q owns 550 shares and Z owns 150 shares of QZ, Inc. Six years after QZ's formation, X contributes land ($60,000 market value and $20,000 basis) for 200 shares of QZ. At the same time, Q contributes $30,000 cash for an additional 100 shares of QZ. Determine the likely tax effects of these additional contributions

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Taxation: Determine the likely tax effects

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