Milly transfers a building worth $100,000(adjusted basis = $80,000) and land worth $50,000(adjusted basis =...
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Milly transfers a building worth $adjusted basis $ and land worth $adjusted basis $ to EE Corp. in exchange for EE Corp. stock worth $ and $ cash in a Section transaction. What is EE Corp.s depreciable basis for the building that it received from Milly? What is the depreciable basis of the land?
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