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A: Taxpayer puts in $2,000,000 of assets (FMV) into a corporation in exchange for common stock.His basis is 450,000.If this transaction is taxable what is

A: Taxpayer puts in $2,000,000 of assets (FMV) into a corporation in exchange for common stock.His basis is 450,000.If this transaction is taxable what is the:

Realized gain/ loss:
Recognized gain/ loss:
Basis in new asset (stock):

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