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Homework answers / question archive / Balsa Corporation distributes land with a fair market value of $75,000 and an adjusted basis of $25,000

Balsa Corporation distributes land with a fair market value of $75,000 and an adjusted basis of $25,000

Business

Balsa Corporation distributes land with a fair market value of $75,000 and an adjusted basis of $25,000. The land is subject to a liability of $30,000.

Which is the total effect of the distribution on the E & P of Balsa?

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