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DIF CORPORATE LIQUIDATIONS #4 A corporate taxpayer distributes land with a basis of $ 41 and a fair market value of $ 59 held for
DIF CORPORATE LIQUIDATIONS #4
A corporate taxpayer distributes land with a basis of $ 41 and a fair market value of $ 59 held for 4 years as an investment, inventory with a basis of $ 26 and a fair market value of $ 42, and marketable securities with a basis of $ 16 and a fair market value of $ 26. How much, if any, are the capital gains that the taxpayer must recognize?
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