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Business, 30.10.2019 00:31 lizdeleon248

Ron and hermione formed wizard corporation on january 2. ron contributed cash of $200,000 in return for 50 percent of the corporation’s stock. hermione contributed a building and land with the following fair market values and adjusted bases in return for 50 percent of the corporation’s stock: fmv tax-adjusted basis building 75,000 20,000 land 175,000 80,000 total $ 250,000 $ 100,000 to equalize the exchange, wizard corporation paid hermione $50,000 in addition to her stock. (leave no answer blank. enter zero if applicable. negative amounts should be indicated by a minus sign.) rev: 10_04_2018_qc_cs-141665 assume hermione’s adjusted basis in the land was $200,000. f. what amount of gain or loss does hermione realize on the formation of the corporation? what amount, if any, does she recognize?

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Ron and hermione formed wizard corporation on january 2. ron contributed cash of $200,000 in return...
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