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George and Nancy form EB Corporation. George transfers land ( basis of $ 1 0 0 and fair market value of $ 1 1 0

George and Nancy form EB Corporation. George transfers land (basis of $100 and fair market value of $110) for 10 shares plus $10 cash. Nancy transfers $5 cash for 2 shares in EB Corporation.
Provide information about recognized gain and stock basis]

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