Casey transfers property with a tax basis of $2,700 and a fair market value of $6,300 to a corporation in exchange for stock with a fair market value of $5,100 and $310 in cash in a transaction that qualifies for deferral under section 351. the corporation assumed a liability of $890 on the property transferred. casey also incurred selling expenses of $574. what is the amount realized by casey in the exchange?
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Casey transfers property with a tax basis of $2,700 and a fair market value of $6,300 to a corporati...
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