Business, 02.07.2019 00:20 rivermadds1514

Simone transferred 100 percent of her stock in purple company to plum corporation in a type a merger. in exchange, she received stock in plum with a fair market value of $577,500 plus $577,500 in cash. simone's tax basis in the purple stock was $200,000. what amount of gain does simone recognize in the exchange and what is her basis in the plum stock she receives?

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