Market corporation owns 100% of subsidiary corporation's stock. market corporation completely liquidates subsidiary corporation, receiving land with a $400,000 adjusted basis and a $500,000 fmv in exchange for subsidiary stock, which has a $300,000 adjusted basis. market corporation has a basis in the land ofa. $300,000.b. $400,000.c. $500,000.d. none of these
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Market corporation owns 100% of subsidiary corporation's stock. market corporation completely liquid...
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