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What is rebecca realized and recognized gain

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Question - Rebecca holds 100 shares of Gotchas stock that she purchased for $2,800 several years ago. In a merger of Gotchas into Solis, Inc., Rebecca exchanges her 100 Gotchas shares for 1,000 Solis shares and $560. Gotchas is valued at $61.60 per share and Solis at $5.60 per share.

a. What is Rebecca's realized and recognized gain/loss from the reorganization?

b. What is Rebecca's basis in her Solis stock?

Reference no: EM132258428

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