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ferris, an individual taxpayer, received $15,000 cash and property valued at $30,000 in a complete liquidation of his holdings in bowler corp. ferris' basis in bowler stock was $1,000 and bowler's basis in the property was $10,000. what is ferris' gain or loss realized and recognized on the exchange of stock for bowler assets and what is his basis in the non-cash property received?
Sagot :
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