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What amount of gain or loss does hermonie realize

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Question - Assume hermonies adjusted tax basis in the land was 295,000. What amount of gain or loss does hermonie realize? What amount if any does she recognize?

Building FMV: 110,625 adj. tax basis: 29,500

Land FMV: 258,125 adj. tax basis: 118,000

Total building: 368,650

Total land: 147,500

Wizard Corporation paid hermonie 73,750 in addition to her stock.

Reference no: EM133145885

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