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Business, 14.04.2020 22:34 20jhutchinson

Tracy transfers property with a value of $60,000 and adjusted basis of $50,000 to form Riley Corp. solely in exchange for all 100 shares of Riley stock valued $60,000. What is Riley Corp.'s basis in the property

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Tracy transfers property with a value of $60,000 and adjusted basis of $50,000 to form Riley Corp. s...
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