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QUESTION 16 Amy transfers property with a tax basis of $900 and a fair market value of $1,000 to a C corporation in exchange
QUESTION 16 Amy transfers property with a tax basis of $900 and a fair market value of $1,000 to a C corporation in exchange for stock with a fair market value of $850 in a transaction that qualifies for Section 351. The corporation assumed a liability of $150 on the property transferred. If, two years later, Amy sells her stock for $1,200. how much long-term capital gain will Amy recognize? O300 Ob. 550 C750 86-450 4
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