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Ralph Owns All the Stock of Silver,Inc

Question 31

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Ralph owns all the stock of Silver,Inc.,a C corporation for which his adjusted basis is $225,000.Ralph founded Silver 12 years ago.The assets and liabilities of Silver are as follows:
Ralph owns all the stock of Silver,Inc.,a C corporation for which his adjusted basis is $225,000.Ralph founded Silver 12 years ago.The assets and liabilities of Silver are as follows: *Accumulated depreciation of $55,000 has been deducted. Ralph has agreed to sell the business to Marilyn and they have agreed on a purchase price of $350,000 less any outstanding liabilities.They are both in the 35% tax bracket,and Silver is in the 34% tax bracket. *Accumulated depreciation of $55,000 has been deducted.
Ralph has agreed to sell the business to Marilyn and they have agreed on a purchase price of $350,000 less any outstanding liabilities.They are both in the 35% tax bracket,and Silver is in the 34% tax bracket.
Ralph owns all the stock of Silver,Inc.,a C corporation for which his adjusted basis is $225,000.Ralph founded Silver 12 years ago.The assets and liabilities of Silver are as follows: *Accumulated depreciation of $55,000 has been deducted. Ralph has agreed to sell the business to Marilyn and they have agreed on a purchase price of $350,000 less any outstanding liabilities.They are both in the 35% tax bracket,and Silver is in the 34% tax bracket.

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