Business, 28.11.2019 00:31 keigleyhannah30
Johanne transferred investment property to s& j corporation in exchange for 60 percent of the s& j corporation stock (65 shares valued at $214,500). the property's fair market value was $267,000 and its adjusted basis to johanne was $43,500. the investment property was subject to a $52,500 mortgage that s& j corporation assumed on the transfer (not treated as boot)a. assuming the transfer qualifies under sec.351, what is the amount and character of the gain johanne must recognize on the exchange? b. what is johanne's adjusted basis in the s& j stock he received in the exchange? c. assume that in in addition to the investment property, johanne transferred inventory with a fair market value of $46,200 and an adjusted basis of $28,900 for additional s& j corporation stock. what is the amount and character of gain johanne must recognize on the exchange of the land and inventory for stock? d. assuming the facts in c., what is johanne's basis in the s& j stock he received in the exchange? e. assume the original facts except that the liability assumed by s& j corporation would give rise to a deduction when paid. what is the amount and character of gain johanne must recognize on the exchange? f. assuming the facts in e., what is johanne's basis in the s& j stock he received in the exchange?
Answers: 3
Business, 23.06.2019 03:00, angelapegues20097
Atennis club charges a monthly membership fee of $150 and charges it members $10 per hour to use a court. there's also $500 fee to become a member. stella joined the tennis club last spring, and she has been a member for 5 months. she has been playing 10 hours of tennis each month. stella values an hour of her time at $20. during a boring afternoon meeting, stella thinks about reserving a court to work on her serve for an hour tonight. what's stella's opportunity cost of working on her serve for an hour?
Answers: 1
Business, 23.06.2019 14:00, saifulcrc1397
If ming wants a tertiary color, she should combine
Answers: 1
Johanne transferred investment property to s& j corporation in exchange for 60 percent of the s&...
Mathematics, 14.07.2019 03:30
Mathematics, 14.07.2019 03:30
Biology, 14.07.2019 03:30
Mathematics, 14.07.2019 03:30
Mathematics, 14.07.2019 03:30
Mathematics, 14.07.2019 03:30