True/False
Abby exchanges 3,000 shares of Osprey, Inc., stock for 1,500 shares of Blue Heron, Inc., stock.Abby's adjusted basis for the Osprey stock is $270,000 and the fair market value of the Blue Heron stock is $300,000.Abby's recognized gain is $0 and her adjusted basis for the Blue Heron stock is $270,000.
Correct Answer:
Verified
Correct Answer:
Verified
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