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Business, 13.07.2019 01:20 rachelshryock551

Mr. brown transferred an office building to corporation j in exchange for 100% of corporation j’s stock and $30,000 in cash. the building had an adjusted basis of $150,000 and a fair market value of $250,000. the building was subject to a mortgage of $120,000, which corporation j assumed for a valid business reason. the fair market value of corporation j’s stock on the date is:

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