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6. Allison transfers property with a basis of $400,000 and FMV of $1 million to Hector, Inc. and receives 50% of its stock. Toni receives
6. Allison transfers property with a basis of $400,000 and FMV of $1 million to Hector, Inc. and receives 50% of its stock. Toni receives the other 50% of the stock for services rendered (worth $1 million). Determine Allison's gain or (loss) from the transfer and Toni's basis in the stock received. (20 Points) * $0 and $1 million $600,000 and $1 million $1 million and $1 million $1 million and $600,000
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