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Phibi owns 1 0 0 % of the stock of Poodle Corporation. In the current year Phibi transfers an installment obligation, tax basis of $
Phibi owns of the stock of Poodle Corporation. In the current year Phibi transfers an installment obligation, tax basis of $ and fair market value of $ for additional stock in Poodle worth $ Which of the following is correct?
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Phibi recognizes no taxable gain on the transfer.
Phibi has a taxable gain of $
Phibi has a taxable gain of $
Phibi has a basis of $ in the additional stock she received in Poodle Corporation.
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