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Luciana, a nonshareholder, purchases a condominium from her employer for $106,700. The fair market value of the condominium is $149,380. What is Luciana's basis in

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Luciana, a nonshareholder, purchases a condominium from her employer for $106,700. The fair market value of the condominium is $149,380. What is Luciana's basis in the condominium and the amount of any income as a result of this purchase? Luciana's basis in the condominium is $ 42,680 X and she reports $ 149,380 X as additional compensation

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