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Carly owns 20% of Base Corporation's single class of stock and Premier Corporation owns the remaining 80%. Carly's basis in the Base stock is $100,000

Carly owns 20% of Base Corporation's single class of stock and Premier Corporation owns the remaining 80%. Carly's basis in the Base stock is $100,000 and Premier Corporation's basis in the Base stock is $600,000. Carly receives property with a $160,000 adjusted basis and a $200,000 FMV and Premier Corporation receives property with a $640,000 adjusted basis and a $900,000 FMV in complete liquidation of Base Corporation. All of Base's cash is used to pay its liabilities. What is the amount of gain recognized by Base Corporation, Premier Corporation and Carly. What is Carly's basis in property received

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Matching item Gain Recognized By Base Corpe Matching item choices Choose the match for Gain Recognized By Base Select One Corp Gain Recognized By Premier Corpe Choose the match for Gain Recognized By Premier Select One Corp Choose the match for Gain Recognized By Carly Gain Recognized By Carly Corp Select One Corp Choose the match for Carly's basis in property Carly's basis in property received Select One received Matching item Gain Recognized By Base Corpe Matching item choices Choose the match for Gain Recognized By Base Select One Corp Gain Recognized By Premier Corpe Choose the match for Gain Recognized By Premier Select One Corp Choose the match for Gain Recognized By Carly Gain Recognized By Carly Corp Select One Corp Choose the match for Carly's basis in property Carly's basis in property received Select One received

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