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Business, 19.12.2021 22:50 ashiteru123
Roy transfers property with a tax basis of $800 and a fair market value of $500 to a corporation in exchange for stock with a fair market value of $400 and $50 cash in a transaction that qualifies for deferral under section 351. The corporation assumed a liability of $50 on the property transferred. What is Roy's tax basis in the stock received in the exchange (assuming no relevant elections)
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Roy transfers property with a tax basis of $800 and a fair market value of $500 to a corporation in...
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