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1. Nadeem Ahmed owns land with an adjusted cost base of $225,000 and a fair...

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Accounting

1. Nadeem Ahmed owns land with an adjusted cost base of $225,000 and a fair market value of $300,000. He sells this land to his spouse for its fair market value of $300,000. Indicate the tax consequences to Mr. Ahmed and the adjusted cost base of the property to his spouse after the sale? How would your answer change if Mr. Ahmed elects out of the spousal rollover?

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