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Title: Tara transfers land with a $690,000 adjusted basis and a $700,000 FMV to a corporation in a Sec. 351 ... Post by: Sheena Maskell on Jan 10, 2017 Tara transfers land with a $690,000 adjusted basis and a $700,000 FMV to a corporation in a Sec. 351 transfer. Immediately after the transfer, Tara owns 100% of the corporationstock with a FMV of $615,000. In addition, $85,000 of liabilities is assumed by the corporation with respect to the transfer. No other property is transferred. Tara's recognized gain on the transfer is
A) $0. B) $5,000. C) $10,000. D) $15,000. Title: Re: Tara transfers land with a $690,000 adjusted basis and a $700,000 FMV to a corporation in a Sec. ... Post by: Yoko900 on Jan 10, 2017 Content hidden
Title: Re: Tara transfers land with a $690,000 adjusted basis and a $700,000 FMV to a corporation in a Sec. 351 ... Post by: Sheena Maskell on Mar 20, 2017 Thank you so much
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