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Author Question: Individuals Jimmy and Ellen form JE Corporation. Ellen transfers land and a building with a $175,000 ... (Read 96 times)

D2AR0N

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on: Sep 13, 2020
Individuals Jimmy and Ellen form JE Corporation. Ellen transfers land and a building with a $175,000 adjusted basis and $200,000 FMV in exchange for 50% of the stock of the JE Corporation and a $20,000 note. Jimmy transfers cash of $200,000 for 50% of the stock and a $20,000 note. The transaction meets the terms of Sec. 351. The JE stock has a fair market value of $360,000. What is:
(a) the amount of Ellen's gain or loss recognized on the transfer?
(b) the basis of her stock in JE Corporation?
(c) JE Corporation's basis in the land and building (together) transferred by Ellen?
Federal Taxation 2017 Individuals ¦ Pope, Rupert, Anderson ¦ 30th Edition
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Marked as best answer by D2AR0N on Sep 13, 2020

ktidd

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Reply #1 on: Sep 13, 2020
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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D2AR0N

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Reply 2 on: Sep 13, 2020
Thanks for the timely response, appreciate it

komodo7

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Reply 3 on: Yesterday
Wow, this really help

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