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XC Question 3 15 pts Lashea sells land with an adjusted basis of $73,000 and a fair market value of $66,000 to her mother, Zenobia,
XC Question 3 15 pts Lashea sells land with an adjusted basis of $73,000 and a fair market value of $66,000 to her mother, Zenobia, for $66,000 Zenobia holds the land for two years and sells it in the marketplace (to Crista) for $72,000. Determine the tax consequences to Lashea and Zenobia How would your answer to (a) above change if Zenobia sold the property for $60,000? Explain your answer B TAA. IX EE 31 - VR TTTT12pt Paragraph
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