Recognize on the land sale to the partnership

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Kendra is an attorney and owns 60 percent of a low partnership. Kendra sells land to the partnership for 50,000 in 2014. She brought the land for $100,000 IN 2007 when real estate prices were at their peak. How much gain or loss must Kemdra recognize on the land sale to the partnership?

Reference no: EM13915298

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