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Chapter 13 I:13-3 and I:13-11
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I:5-1
What problem may exist in determining the amount realized for an
investor who exchanges common stock of a publicly traded
corporation for a used building? How is the problem likely to be
resolved?
I:5-7
Martha owns 500 shares of Columbus Corporation common stock at
the beginning of the year with a basis of $82,500. During the year,
Columbus declares and pays a 10% nontaxable stock dividend. What is
her basis for each of the 50 shares received?
I:8-5
What two general requirements must be met for a transaction to result
in a capital loss?
I:8-14
Explain the difference between materially participating and actively
participating in an activity. When is the active participation test used?
I:9-4