As part of the divorce agreement harold transfers his, Ask an Expert

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As part of the divorce agreement, Harold transfers his ownership interest in their persnonal residence to Lisa. The house has been jointly owned and the adjusted basis is $190,000. At the time of the transfer, the FMV of the house is $300,000. What is the recognized gain to Harold's and what is Lisa's adjusted basis?

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Financial Accounting, Accounting

Category:- Financial Accounting
Reference No.:- M92020087

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