Business, 23.11.2019 05:31 floresjacqueline

Lisa sells business property with an adjusted basis of $237,800 to her son, alfred, for its fair market value of $190,240.
if an amount is zero, enter "0".
a. what is lisa's realized and recognized gain or loss?
b. what is alfred's recognized gain or loss if he subsequently sells the property for $261,580? for $154,570?

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Lisa sells business property with an adjusted basis of $237,800 to her son, alfred, for its fair mar...

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