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Alex formed a new corporation of which she is the sole shareholder. In a 3 5 1 exchange, she transferred property that had an adjusted

Alex formed a new corporation of which she is the sole shareholder. In a 351 exchange, she transferred property that had an adjusted basis to her of $185,000 and a fair market value of $250,000 in exchange for 100 percent of the stock. The fair market value of the stock at the date of transfer was $200,000. How much gain or loss does Alex recognize from this exchange?

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