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What amount of gain must travis recognize

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Reference no: EM133019119

Question - Travis transfers land with a fair market value of $125,000, basis of $25,000, to a corporation in exchange for 100% of the corporation's stock. What amount of gain must Travis recognize as a result of this transaction?

a. $0

b. $25,000

c. $100,000

d. $125,000

e. None of the above

Reference no: EM133019119

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