What is the corporation''s recognized loss in 2011


In March 2011, a corporation sold land with an adjusted basis of $100,000 to its 55-percent shareholder for $80,000. The shareholder sold the land in June to an unrelated party for $110,000. what is the corporation's recognized loss in 2011 ?

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Accounting Basics: What is the corporation''s recognized loss in 2011
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