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Orange Corporation distributes property with a FMV of $425,000, subject to a liability of $250,000 (Mary is not a co-signer), to Mary. Mary's basis is
Orange Corporation distributes property with a FMV of $425,000, subject to a liability of $250,000 (Mary is not a co-signer), to Mary. Mary's basis is $150,000. What is Mary's gain on the distribution? a b $25,000 $175,000 $275,000 $425,000 0 d
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