Gabrielle transfers property with a tax basis of $400 and a fair market value of $700 to a corporation in exchange for stock with a fair market value of $500 and $100 of cash in a transaction that qualifies for deferral under section 351. The corporation also assumed a liability of $100 on the property transferred. What is Gabrielle's tax basis in the stock received in the exchange
Solved
Show answers
More tips
- F Family and Home Why Having Pets at Home is Good for Your Health...
- H Health and Medicine How to perform artificial respiration?...
- H Health and Medicine 10 Tips for Avoiding Vitamin Deficiency...
- F Food and Cooking How to Properly Cook Buckwheat?...
- F Food and Cooking How Many Grams Are In a Tablespoon?...
- L Leisure and Entertainment Carving: History and Techniques for Creating Vegetable and Fruit Decorations...
- P Photography and Videography How to Choose the Perfect Photo Paper for Your Images?...
- H Health and Medicine What vaccines do children need?...
- H Health and Medicine Reasons for the Appearance of Warts: Everything You Need to Know...
- A Art and Culture How to Learn Screaming: Step-by-Step Guide for Beginners...
Answers on questions: Business
- B Business Consider the economies of sporon and tralfamadore, both of which produce glops of gloop using only tools and workers. suppose that, during the course of 40 years,...
- C Chemistry In an experiment, 1. 0 mole of N›O4 is placed in a 10. 0-L ves- sel. Calculate the concentrations of NO4 and NO when this reaction reaches equilibrium....
- M Mathematics Olivia draws four identical sqaures as shown below to make a new, larger square. The length of one of the small square sides is 9 centimeters. What is the perimeter...
- H History Phoenician culture was influenced by with the Egyptians....
- M Mathematics Cindy and Matt just bought a new above ground pool. The pool has a diameter of 30 feet and is 6 feet tall. The pool company is going to fill the new pool with water...
- C Chemistry if wine is 9.0% ethanol by volume, if someone consumes 250 mL of wine, how many mL of ethanol have they consumed...
- E English An essay about the first seeing my dad since I grew up without him...
- A Arts In theatre, even though production teams may have radically different ideas about how to interpret a script, the still holds an honored position...
- M Mathematics Which epuation represents the relationship in the table...
- M Mathematics Please help me with this math problem I will give brainliest!!...
Ответ:
the tax basis in the stock received in the case of exchange is $300
Explanation:
The computation of the tax basis in the stock received in the case of exchange is as follows:
Gabrielle’s tax basis in the stock is
= Tax basis of property transferred + Gain recognized - Cash received - Liabilities assumed
= $400 + $100 - $100 - $100
= $300
Hence, the tax basis in the stock received in the case of exchange is $300
Ответ:
1. For purchases, the APR during an introductory period is either 8.99% or 10.99% or 12.99% depending on creditworthiness. After the introductory period the APR is 14.99%
2. Cash advance monthly rate changes based on what the Prime Rate is that month + 14.99% so if the prime rate is 3, add 14.99 to that so 17.99% of the amount received in cash. So if you take $200 cash advance, the amount charged at 17.99% would be 0.1799 x 200 =$35.98.
3. If the card holder does any of the following: makes a late payment, goes over their stated credit limit, make an account payment that is returned, or commit the afore mentioned acts on another account held by this same creditor the APR is then increased to 28.99%.
4. The annual fee charged for the credit card is $20.
5. The fee for a balance transfer is Either $5 or 3% of the amount that is transferred or $100 (whichever is greater) to this card from another account.
a. The APR charged for a balance transfer is 15.99%, but would vary based on the market Prime Rate.
6. Fee for cash advance is $5 or 3% of the amount of cash advance taken - whichever amount is largest.
7. 2% of the amount charged (in US dollars) in a transaction.
8. A late fee of $25 will be charged on an account with a balance of $999 or less. If the account balance if over $1000 the late fee of $35 will be charged and the APR will increase to 28.99%.
9. A fee of $29 is charged for accounts that exceed the credit limit in addition to an APR increase to 28.99%
Explanation: explanations are with the answers listed above.