Sanchez co

“Sanchez co. sold land to Benita Sanchzes for $100,000 who owns 60% of the outstanding stock of Sanchez. The company;s adjusted basis in the land was $120,000. a. Compute the company’s realized and recognized gain or loss. b. Whats is the Belita’s adjusted basis in the land? c. If Belita sold the land for $90,000 after 2 years, what would be her realized and recognized gain or loss? d. If Belita sold the land for $105,000 after 2 years, what would be her realized and recognized gain or loss? e. if Belita sold the land for $145,000 2 years after she purchased it, compute realized and recognized gain or loss. “

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