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Small Corporation owns assets with a FMV of$3 million and a basis of $2.1 million. Smalls liabilities equal $250,000. Small transfers assets with a FMV
Small Corporation owns assets with a FMV of$3 million and a basis of $2.1 million. Smalls liabilities equal $250,000. Small transfers assets with a FMV of $2.75 million and a basis of $1.2 million to Parent Corporation as part of a reorganization. Small keeps other assets to pay off its liabilities. Has Parent Corporation received substantially all of the assets of Small?
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