Business, 12.10.2020 16:01 aleanroverto723
Carmen and Marc form Apple Corporation. Carmen transfers land that is Sec. 1231 property, with an adjusted basis of $18,000 and an FMV of $20,000 in exchange for onehalf of the Apple Corporation stock. Marc transfers equipment that originally costs $28,000 on which he has taken $5,000 in depreciation deductions. The equipment has an FMV of $25,000 and he receives onehalf of the stock and a $5,000 shortterm note. The transaction meets the requirements of Sec. 351. Which statement below is correct?
a. Carmen recognizes a $2,000 Sec. 1231 gain and Marc recognizes $5,000 as ordinary income.
b. Carmen recognizes no gain and Marc recognizes $2,000 as ordinary income.
c. There is no recognized gain or loss.
d. Carmen recognizes a $2,000 Sec. 1231 gain and Marc recognizes a $5,000 Sec. 1231 gain.
Answers: 1
Business, 22.06.2019 22:40
In a fixed-term, level-payment reverse mortgage, sometimes called a reverse annuity mortgage, or ram, a lender agrees to pay the homeowner a monthly payment, or annuity, and expects to be repaid from the homeowner’s equity when he or she sells the home or obtains other financing to pay off the ram. consider a household that owns a $150,000 home free and clear of mortgage debt. the ram lender agrees to a $100,000 ram for 10 years at 6 percent. assume payments are made annually, at the beginning of each year to the homeowner. calculate the annual payment on the ram.
Answers: 1
Business, 23.06.2019 01:30
Jodie lives in a developing nation where the local markets are underdeveloped in terms of domestic exposure. her country wants to boost these domestic industries in the face of heavy competition from foreign players in the market. which trade practice should jodie’s country adopt to shield its domestic industries from foreign players? jodie’s country should adopt to shield its domestic industries from foreign players. typing answer
Answers: 1
Business, 23.06.2019 02:30
What provides financial support to workers who are retired or have disabilities? medicare social security tax withholdings medicaid
Answers: 1
Business, 23.06.2019 07:40
If airlines do not change their prices how else might they try to compete with each other?
Answers: 3
Carmen and Marc form Apple Corporation. Carmen transfers land that is Sec. 1231 property, with an ad...
Mathematics, 26.05.2020 18:01
Mathematics, 26.05.2020 18:02
Mathematics, 26.05.2020 18:02
Mathematics, 26.05.2020 18:02
Mathematics, 26.05.2020 18:02
Mathematics, 26.05.2020 18:02
Mathematics, 26.05.2020 18:02
Chemistry, 26.05.2020 18:02
Mathematics, 26.05.2020 18:02
Mathematics, 26.05.2020 18:02
Mathematics, 26.05.2020 18:02
Mathematics, 26.05.2020 18:02