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Unformatted text preview: F) June recognized gain is $20,000 in ordinary gain. G) June basis in Zelcova is $60,000 H) Zelcova Basis in the unrealized receivable is $20,000 I) Whit recognized gain is $90,000. Which 300000-210000. J) Whit basis in Zelcova stock is 0 K) Zelcova basis in the land and building is $300,000. Problem 28 A) Neither partner will recognized a gain on their exchanges B) Clyde would recognized a gain of $260,000 which is $350000-$90000 C) Clydes transfer should be independent of the other two partner transfer. Problem 36 A) The basis of Swift of stock to Paul would 0. B) The property basis to Swift Corporation is $60,000. Week 1: Tax Administration and Practice Assignment 2010 By Cheryl Rhaburn...
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- Spring '10