Bob Parr sells property with an adjusted basis of $100,000 to his daughter, Violet, for...
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Accounting
Bob Parr sells property with an adjusted basis of $100,000 to his daughter, Violet, for $55,000. Violet subsequently sells the property to her brother, Dash, for $55,000. Three years later, Dash sells the property to Frozone, an unrelated party, for $110,000. What is Dashs recognized gain or loss on the sale of the property to Frozone?
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