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Glenda Goodwich contributes property with a basis of $ 2 0 , 0 0 0 and a fair market value of $ 1 0 0
Glenda Goodwich contributes property with a basis of $ and a fair market value of $ to form WOZ Corporation in exchange for shares of WOZ common stock with a fair market value of $ and $ cash. This contribution will result in
Multiple choice question.
loss recognition.
no gain or loss recognition.
gain recognition.
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