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Jeremy transfers Sec. 351 property acquired three years earlier having a $100,000 basis and a $160,000 FMV to Jeneva Corporation. Jeremy receives all 200 shares of Jeneva stock having a $140,000 FMV, and a $20,000 90-day Jeneva note. What is Jeremy's recognized gain?
Environment
The surroundings or conditions in which an organism lives or operates.
Sensitive Period
A specific time in an organism's development when it is particularly receptive to certain environmental stimuli or experiences.
White-Crowned Sparrow
A species of bird, recognized by its distinctive black and white stripes on the head, commonly found in North America.
Food Preference
An individual's inclination or desire to select certain types of food over others based on taste, health, culture, or other factors.
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