Zhang incorporated her sole proprietorship by transferring inventory, a building, and land to the corporation in 100 percent of the corporation's stock. The property transferred to the corporation had the following fair marke and adjusted tax bases: Adjusted Tax Basis FMV $ 56,000 420,000 644,000 $ 1,120,000 $ 28,000 280,000 840,000 $ 1,148,000 Inventory Building Land Total The corporation also assumed a mortgage of $100,000 attached to the building and land. The fair market value corporation's stock received in the exchange was $1,020,000. The transaction met the requirements to be tax- under §351. (Negative amount should be indicated by a minus sign. Leave no answer blank. Enter zero if ap at is the corporation's adjusted tax basis in each of the assets received in the exchange?

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Ramon incorporated his sole proprietorship by transferring inventory, a building, and land to the corporation in return for 100 percent of the corporation’s stock. The property transferred to the corporation had the following fair market values and adjusted tax bases:     FMV Adjusted Tax Basis Inventory $ 11,500 $ 4,800 Building 52,750 36,500 Land 122,000 60,000 Total $ 186,250 $ 101,300   The fair market value of the corporation’s stock received in the exchange equaled the fair market value of the assets transferred to the corporation by Ramon. (Leave no answer blank. Enter zero if applicable. Negative amount should be indicated by a minus sign.) a. What amount of gain or loss does Ramon realize on the transfer of the property to his corporation? b. What amount of gain or loss does Ramon recognize on the transfer of the property to his corporation?

[The following information applies to the questions displayed below.] Zhang incorporated her sole proprietorship by transferring inventory, a building, and land to the corporation in return for 100 percent of the corporation's stock. The property transferred to the corporation had the following fair market values and adjusted tax bases: Inventory Building Land Adjusted Tax Basis $ 34,000 340,000 1,020,000 FMV $ 68,000 510,000 782,000 $ 1,360,000 $ 1,394,000 Total The corporation also assumed a mortgage of $100,000 attached to the building and land. The fair market value of the corporation's stock received in the exchange was $1,260,000. The transaction met the requirements to be tax-deferred under §351. (Negative amount should be indicated by a minus sign. Leave no answer blank. Enter zero if applicable.) Problem 08-40 Part d (Algo) d. What is the corporation's adjusted tax basis in each of the assets received in the exchange? Adjusted basis Land $

Tesla Incorporated and BMW Company entered into an exchange of real property. Here is the information for the properties to be exchanged. Tesla: FMV $800,000 Adjustasted tax basis $600,000 Mortgage $ 170,000 BMW: FMV $715,000 Adjustasted tax basis $500,000 Mortgage $0 Pursuant to the exchange, BMW assumed the mortgage on the Teslas property. Compute Tesla's tax basis in the property received from BMW.

[The following information applies to the questions displayed below.]Zhang incorporated her sole proprietorship by transferring inventory, a building, and land to the corporation in return for 100 percent of the corporation’s stock. The property transferred to the corporation had the following fair market values and adjusted bases:    FMV   Adjusted Basis Inventory $ 68,000   $ 34,000 Building   510,000     340,000 Land   782,000     1,020,000 Total $ 1,360,000   $ 1,394,000     The corporation also assumed a mortgage of $100,000 attached to the building and land. The fair market value of the corporation’s stock received in the exchange was $1,260,000. The transaction met the requirements to be tax-deferred under §351. (Negative amount should be indicated by a minus sign. Leave no answer blank. Enter zero if applicable.)   a. What amount of gain or loss does Zhang realize on the transfer of the property to her corporation? C. What is Zhang’s tax basis in the…

Dhapa

Ramon incorporated his sole proprietorship by transferring inventory, a building, and land to the corporation in return for 100 percent of the corporation’s stock. The property transferred to the corporation had the following fair market values and adjusted bases:     FMV   Adjusted Basis Inventory $ 15,750   $ 9,500 Building   71,500     54,750 Land   195,000     72,500 Total $ 282,250   $ 136,750     The fair market value of the corporation’s stock received in the exchange equaled the fair market value of the assets transferred to the corporation by Ramon. b. What amount of gain or loss does Ramon recognize on the transfer of the property to his corporation?  c. What is Ramon’s basis in the stock he receives in his corporation?