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Unformatted text preview: d) no e) yes f) the basis of the property acquired will equal the transferor's basis increased by any gain recognized to the transferor 31) assets basi 200,000 assets wort 800,000 liabilities 350,000 a) 600,000 b) 150,000 c) boots basis 200,000 and gain re 150,000 d) basis 1000 37) a,b,c,d 46) a) The control requirement is not met because its less than 80%, therefore it will not be violated b) the exchange of debentrues is a taxable exchange and gain or loss should be recognized c) yes it qualifies as a type B d) yes it qualifies as a type B...
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This note was uploaded on 03/05/2012 for the course INCOME TAX 4404 taught by Professor Bulie during the Spring '11 term at University of Minnesota Duluth.
- Spring '11