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Caldwell and Rosini form Animation Corporation. Caldwell transfers property ( basis of $ 2 5 0 , 0 0 0 and fair market value of
Caldwell and Rosini form Animation Corporation. Caldwell transfers property basis of $ and fair market value of $ while Rosini transfers land basis of $ and fair market value of $ and $ of cash. Each receives of Animation's stock. As a result of these transfers:
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Caldwell has a recognized loss of $ and Rosini has a recognized gain of $
Neither Caldwell nor Rosini has any recognized gain or loss.
Caldwell has no recognized loss, but Rosini has a recognized gain of $
Animation Corporation will have a basis in the land of $
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