Business, 04.09.2019 02:10 elliswilliams6035

William transfers real property with a fair market value of $275,000 and an adjusted basis of $125,000 to westminster corporation. he has owned the property for seven years. in return, he receives all 500 shares of stock in westminster corporation with a fair market value of $200,000, as well as a note for $75,000 payable in one year. what is the amount of gain recognized on the exchange?

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William transfers real property with a fair market value of $275,000 and an adjusted basis of $125,0...

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