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Greta land worth 100000 adjusted basis of 60000 how much

Question - Sandy and Greta form Tan, Inc. by transferring the following assets to the corporation in exchange for 1,000 shares of stock each.

Sandy: Cash of $100,000

Greta: Land (worth $100,000; adjusted basis of $60,000).

How much gain must Tan recognize on the receipt of these assets?

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Accounting Basics: Greta land worth 100000 adjusted basis of 60000 how much

Reference No:- TGS02581092

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