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Business, 26.09.2019 23:20 acostasilvana1osw8tk

Jasmine transferred 100 percent of her stock in woodward company to jefferson corporation in a type a merger. in exchange, she received stock in jefferson with a fair market value of $600,000 plus $400,000 in cash. jasmine's tax basis in the woodward stock was $1,500,000. what amount of loss does jasmine recognize in the exchange and what is her basis in the jefferson stock she receives?

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