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Business, 19.07.2021 15:30 shirleybuck

Gaston Corporation distributes § 1245 property as a dividend to its shareholders. The property's fair market value is $970,400, and the adjusted basis is $921,880. In addition, the amount of the recapture potential is $92,188. What is the amount and character of Gaston's gain or loss?

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Gaston Corporation distributes § 1245 property as a dividend to its shareholders. The property's fai...
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