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Part $1$

Nina transfers to Austin Corporation depreciable machinery originally costing $ $18$ comma $000$ and now having$$ a$($n$)$ $ $15$ comma $000$ adjusted basis. In$$ exchange, Nina receives all $325$ shares of Austin stock having$$ a$($n$)$ $ $23$ comma $000$ fair market value$($FMV$)$ and a$$ three$-$year Austin note having$$ a$($n$)$ $ $9$ comma $000$ FMV$.$

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Part $1$

Requirement a$.$ What are the amount and character of Nina$\text{'}$s recognized gain or$$ loss?

Begin by identifying Nina$\text{'}$s realized gain or loss and recognized gain or loss. $($Enter a loss with a minus sign or$$ parentheses.$)$

Nina's realized gain $($loss$)=$

Nina's recognized gain $($loss$)=$Question content area top

Part $1$

Nina transfers to Austin Corporation depreciable machinery originally costing $ $18$ comma $000$ and now having$$ a$($n$)$ $ $15$ comma $000$ adjusted basis. In$$ exchange, Nina receives all $325$ shares of Austin stock having$$ a$($n$)$ $ $23$ comma $000$ fair market value$($FMV$)$ and a$$ three$-$year Austin note having$$ a$($n$)$ $ $9$ comma $000$ FMV$.$

Read the requirements.LOADING...

Question content area bottom

Part $1$

Requirement a$.$ What are the amount and character of Nina$\text{'}$s recognized gain or$$ loss?

Begin by identifying Nina$\text{'}$s realized gain or loss and recognized gain or loss. $($Enter a loss with a minus sign or$$ parentheses.$)$

Nina's realized gain $($loss$)=$

Nina's recognized gain $($loss$)=$