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Brian transfers to Woodside Corporation property having a $33,000 adjusted basis and a $48,000 FMV in exchange for all of Woodside's stock worth $12,000 and

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Brian transfers to Woodside Corporation property having a $33,000 adjusted basis and a $48,000 FMV in exchange for all of Woodside's stock worth $12,000 and Woodside's assumption of a $36,000 mortgage on the property. Read the requirements. Requirement a. What is the amount of Brian's recognized gain or loss? Brian realizes a(n) and recognizes a. b. ooo What is the amount of Brian's recognized gain or loss? What is Brian's basis in the Woodside stock? What is Woodside's basis in the property? How would your answers to Parts a through c change if the mortgage assumed by Woodside were $12,000 and the Woodside stock were worth $36,000

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