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Buford sells an apartment building for $720,000. His adjusted basis is $500,000 for regular income tax purposes and $550,000 for AMT purposes. a. Buford's recognized
Buford sells an apartment building for $720,000. His adjusted basis is $500,000 for regular income tax purposes and $550,000 for AMT purposes.
a. Buford's recognized gain for regular income tax purposes is $.
b. Buford's recognized gain for AMT purposes is $.
c. Buford's AMT adjustment is and its value is $.
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