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please show all work and explanations. 19. Silver Corporation is liquidated, with Diana receiving $10,000 in money, other property having a $7,500 FMV, and a
please show all work and explanations.
19. Silver Corporation is liquidated, with Diana receiving $10,000 in money, other property having a $7,500 FMV, and a $1,500 mortgage on the property (assumed by Diana). Diana's basis in his Silver Co. stock is $10,000. Upon liquidation, Diana's must recognize a gain of A) 0. B) $3,500. C) $6,000. D) $17,500Step by Step Solution
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