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Title: Danielle transfers land with a $100,000 FMV (basis $95,000) and $85,000 of liabilities to a ... Post by: Sheena Maskell on Jan 10, 2017 Danielle transfers land with a $100,000 FMV (basis $95,000) and $85,000 of liabilities to a corporation in exchange for 100% of the corporation's stock with a FMV of $15,000. The corporation qualifies as a 351 transfer. The corporation assumes the $85,000 mortgage. What is the adjusted basis of the property to the corporation?
A) $0 B) $15,000 C) $95,000 D) $100,000 Title: Re: Danielle transfers land with a $100,000 FMV (basis $95,000) and $85,000 of liabilities to a ... Post by: MsLippy on Jan 10, 2017 Content hidden
Title: Re: Danielle transfers land with a $100,000 FMV (basis $95,000) and $85,000 of liabilities to a ... Post by: Sheena Maskell on Mar 20, 2017 Thank you so much
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