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What is Hosha basis in the Petal stock she received

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Reference no: EM132662274

Problem - Hosha exchanges all of her Leaf stock for Petal stock plus $5,000 cash. The exchange is pursuant to a tax-free reorganization. Hosha paid $25,000 for the Leaf stock five years ago. The Petal stock received by Hosha has an $18,000 fair market value.

a. What is Hosha's realized and recognized gain/loss from the reorganization? Prepare your solution using spreadsheet software such as Microsoft Excel.

b. What is Hosha's basis in the Petal stock she received?

Reference no: EM132662274

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