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What is murphys adjusted basis in his stock

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Question - Dan and Murphy contributed property to a corporation in exchange for stock during the current tax year. Dan contributed $50,000 cash for 50% of the stock and Murphy contributed property with an adjusted basis of $36,000 and fair market value of $50,000 for 50% of the stock. What is Murphy's adjusted basis in his stock?

Reference no: EM131696011

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