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Indigo Corporation wants to transfer cash of $424,600 or property worth $424,600 to one of its shareholders, Brianna, in a redemption transaction that will

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Indigo Corporation wants to transfer cash of $424,600 or property worth $424,600 to one of its shareholders, Brianna, in a redemption transaction that will be treated as a qualifying stock redemption. If Indigo distributes property, the corporation will choose between two assets that are each worth $424,600 and are no longer needed in its business: Property A (basis of $212,300) and Property B (basis of $551,980). a. Compute Indigo's recognized gain or loss if it distributes Property A in redemption of Brianna's shares. The distribution of Property A would result in a realized gain recognized. Feedback Check My Work of $ to Indigo, of which is b. Compute Indigo's recognized gain or loss if it distributes Property B in redemption of Brianna's shares. The distribution of Property B would result in a realized loss recognized. to Indigo, of which Feedback Check My Work c. Compute Indigo's recognized gain or loss if it sells Property B to an unrelated party, then distributes the sale proceeds in redemption of Brianna's shares. A sale of Property B to an unrelated party would result in a realized loss of $ to Indigo, of which is recognized.

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