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A Transfers Machines Valued at $170,000 (Basis = $150,000)along with $30,000

question 48

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A transfers machines valued at $170,000 (basis = $150,000) along with $30,000 cash to AB Corporation and B transfers real property valued at $320,000 (basis = $310,000) to the corporation.A receives 40 percent of the outstanding stock and B receives 60 percent.B also receives $20,000 from the corporation.What is B's basis for his AB stock?

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