beccadrums
06.04.2021 •
Business
Carlos transfers property with a tax basis of $750 and a fair market value of $1,200 to a corporation in exchange for stock with a fair market value of $975 and $75 cash in a transaction that qualifies for deferral under section 351. The corporation assumed a liability of $150 on the property transferred. What is the corporation's tax basis in the property received in the exchange
Solved
Show answers
More tips
- G Goods and services How to Properly Calculate the Power of Your Air Conditioner?...
- F Food and Cooking Effective Methods to Organize Videos in your iPad According to Content...
- F Family and Home Parquet or laminate, which is better?...
- L Leisure and Entertainment How to Properly Wind Fishing Line onto a Reel?...
- L Leisure and Entertainment How to Make a Paper Boat in Simple Steps...
- T Travel and tourism Maldives Adventures: What is the Best Season to Visit the Luxurious Beaches?...
- H Health and Medicine Kinesiology: What is it and How Does it Work?...
- O Other How to Choose the Best Answer to Your Question on The Grand Question ?...
- L Leisure and Entertainment History of International Women s Day: When Did the Celebration of March 8th Begin?...
- S Style and Beauty Intimate Haircut: The Reasons, Popularity, and Risks...
Answers on questions: Business
- B Business 1. Describe an ethical dilemma related to an employee s behavior at work or work discipline. (1 point) 2. Describe an ethical dilemma related to work quality. (1 point)...
- C Computers and Technology What is the purpose of an internet protocol address (ip address)? it specifies whether a computer is using a broadband network or a direct-dial network. it differentiates...
- A Arts What is the scale and subject matter of las meninas? +?...
- M Mathematics Find an equation of the plane that contains the points p(5,−1,1),q(9,1,5),and r(8,−6,0)p(5,−1,1),q(9,1,5),and r(8,−6,0)....
- M Mathematics Find an equation of the plane. the plane through the point (−2, 6, 10) and perpendicular to the line x = 3 + t, y = 4t, z = 1 − 3t...
- B Biology The located just above the roof of the mouth and just below the is often referred to as the body s master gland because many of the hormones it releases activate the body...
- S Social Studies Elaine mobley worked as a social worker with the virginia health department s child abuse program for two years. mobley was a. member of the nonsectarian unitarian universalist...
- H History How did the dawes plan affect the economy of postwar germany?...
- B Biology How much of our total body weight is water? 30-50 percent 40-60 percent 50-70 percent 60-80 percent?...
- M Mathematics Evaluate when a = 8 and b = 4. ab^2 a−b...
Ответ:
$975
Explanation:
Use the following formula to calculate the Corporation's Tax basis in the property received in exchange
Corporation's Tax basis = Tax basis of Property transferred + Gain recognized
Where
Tax basis of Property transferred = $750
Gain recognized = 975 - $750 = $225
Placing values in the formula
Corporation's Tax basis = $750 + $225
Corporation's Tax basis = $975
Ответ:
Journal Information
This distinguished journal was founded and edited for more than 20 years by the late Harold Marcus, whose energy and dedication to the scholarly study of Ethiopia and its neighbors in the Horn of Africa inspired several generations of students and scholars throughout the world. While Northeast African Studies will bring some changes in focus and format, the editors remain committed to the high standards of research, writing, and production that the original journal championed.
Frm :-![]()