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Red Corporation distributed a building to shareholder in a IRC 336 liquidation. The building had a basis of $100,000, FMV of $120,000 and a mortgage

Red Corporation distributed a building to shareholder in a IRC 336 liquidation. The building had a basis of $100,000, FMV of $120,000 and a mortgage of $150,000. Red will recognize a gain of of $50,00...

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