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What basis does sandy have in the corporation

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Sandy and Danny form Rydell Corporation. Sandy transfers property worth $175,000 (basis of $83,000) for 700 shares in the corporation. Danny receives 300 shares in the corporation for transferring property worth $70,000 (basis of $42,000) and for legal services worth $5,000 in organizing the corporation. What basis does Sandy have in the corporation?

Reference no: EM133266955

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