Purchases a condominium from her employer

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Reference no: EM13905746

Luciana, a nonshareholder, purchases a condominium from her employer for $123,500. The fair market value of the condominium is $172,900. What is Luciana’s basis in the condominium and the amount of any income as a result of this purchase?

Luciana's basis in the condominium is $_______ and she reports $______ as additional compensation

Reference no: EM13905746

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