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OBRA '87 originally addressed problems regarding the quality of health care for

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Jen & John each own 50% of JJ, Inc. (100 shares each). Jen contributes $40,000 of additional appreciated property (tax basis of $25,000) in exchange for an additional 20 shares. John contributes $75,000 of additional appreciated property (tax basis of $55,000) in exchange for an additional 30 shares and a car worth $15,000 ($10,000 basis in the hands of the corporation). What is John's basis in the 30 shares and the car he received?a)$60,000 stock basis; $10,000 car basisb)$60,000 stock basis; $15,000 car basisc)$55,000 stock basis; $10,000 car basisd)$55,000 stock basis; $15,000 car basis
Mitt redeems his entire ownership of stock in Dawn Key Corp. However, Mitt's sons, Rick and Newt, own all of the remaining shares of Dawn Key Corp. after the redemption. What are the requirements that Mitt must meet to waive the family attribution rules for this redemption? (Check all that apply.)
Anakin Skywalker was driving down a dark path at night when he got into an accident with Yoda. Yoda sustained $90,000 of injuries to his legs, chest, and face, and sued for negligent driving on a per se negligence theory. Yoda accuses Anakin of running a red light. Yoda's lawyer R2D2 interviewed his client, and all eight witnesses, seven of whom say Anakin was speeding and running a red light. He checked with the police and city government for video footage, but there was none. At trial, however, the jury believes the one witness who says Anakin was driving reasonably and finds him not liable. Anakin's lawyer, Palpatine then brings a motion for Rule 11 sanctions. True, or false, the court will grant the motion?

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