a. What gain or income, if any, will the parties recognize on the transfer? María recognizes María has a basis of $ of $ b. What basis do María and Bob have in the Robin Corporation stock? Robin Corporation has a basis of $ Bob recognizes and Bob has a basis of $ c. What is Robin Corporation's basis in the property and services it received from María and Bob? in the property María transferred and a basis of in the property Bob transferred. in the stock. of

A26.

If a family company was established with both Robbie and Dawnnie each owning the same number of shares, would any dividends paid to the couple be franked or unfranked? Explain.   On the basis that Robbie will still receive a salary and does not require any further income, could a dividend be paid only to Dawnnie but not to Robbie?

A-1

which of the following is not a "relative" under the constructive ownership rules? A. 60 percent owned corporation. B. A sister. C. A partnership in which the taxpayer owns 20 percent. D. A trust of which taxpayer is the sole beneficiary. E. All of the Above are considered Relatives.

Does James have income, gain or loss on the transaction in which he receives stock in TOBY, INC.?  Indicate the amount of any income, gain, or loss. What is James’s basis in TOBY, INC. stock? Does Jenna have income, gain, or loss on the transaction in which she receives stock in TOBY, INC.? Indicate the amount of any income, gain, or loss.

Robert and Charles are trying to decide what form of business to form for their new company. They ask you the following question: Which of the following transactions would be considered by the IRS to be a taxable sale of assets? Changing the form of business from: a partnership to an LLC. a corporation to an LLC. All of the above. an LLC to a corporation.

Discuss planning opportunities with organizing a corporation. Instructions Original Post Prompt: Sarah incorporates her small business but does not transfer the machinery and equipment the business uses to the corporation. Subsequently, the machinery and equipment are leased to the corporation for an annual rent. What tax reasons might Sarah have for not transferring the machinery and equipment to the corporation when the business was incorporated?

In order to be eligible to exclude gain on the sale of a principal residence, the taxpayer must meet which of the following tests? ○ Ownership test ○ Use test and ownership test Business use test ○ Use test

Hi can someone help me with this please?