This is the same fact pattern as that above – Question 2 (Continued) part f Use the information above, but change the following assumptions: The mortgage attached to the building and land was $600,000 The building has a FMV of $250,000 The land has a FMV of $530,000 Total FMV $800,000; AB of $410,000 F. What is Lorrie’s adjusted basis in the shares she receives?
This is the fact pattern as that above – Question 2 (Continu…
This is the fact pattern as that above – Question 2 (Continued) part h Use the information above, but change the following assumptions: The mortgage attached to the building and land was $600,000 The building has a FMV of $250,000 The land has a FMV of $530,000 Total FMV $800,000; AB of $410,000 H. What is the Corporation’s adjusted basis in the assets it receives? Inventory = Building = Land =
This is the same fact pattern as that above – Question 4 par…
This is the same fact pattern as that above – Question 4 part c Abbie and Scout incorporate Golden, Inc. by transferring assets in exchange for stock. Abbie transfers property A with AB of $50,000 and a FMV of $70,000 in exchange for 70% of the stock. Scout transfers property B with a FMV of $10,000 and an adjusted basis of $1,000 along with services in exchange for 30% of the stock. C. What amount of gain/loss does Scout recognize as a result of the transfer?
This is the fact pattern as that above – Question 2 (Continu…
This is the fact pattern as that above – Question 2 (Continued) part h Use the information above, but change the following assumptions: The mortgage attached to the building and land was $600,000 The building has a FMV of $250,000 The land has a FMV of $530,000 Total FMV $800,000; AB of $410,000 H. What is the Corporation’s adjusted basis in the assets it receives? Inventory = Building = Land =
This is the same fact pattern as that above – Question 4 par…
This is the same fact pattern as that above – Question 4 part c Abbie and Scout incorporate Golden, Inc. by transferring assets in exchange for stock. Abbie transfers property A with AB of $50,000 and a FMV of $70,000 in exchange for 70% of the stock. Scout transfers property B with a FMV of $10,000 and an adjusted basis of $1,000 along with services in exchange for 30% of the stock. C. What amount of gain/loss does Scout recognize as a result of the transfer?
This is the same fact pattern as that above – Question 3 par…
This is the same fact pattern as that above – Question 3 part c Aubie transfers assets to Tiger Corporation in a transaction subject to Sec. 351. Assets Transferred: Inventory with FMV $40,000 and AB $50,000 Equipment with FMV $60,000 and AB $50,000 Investment with FMV $100,000 and AB $10,000 Total FMV $200,000 and AB of $110,000 In addition to stock, Aubie receives $60,000 cash. C. What amount of gain/loss does the Corporation recognize as a result of the transfer?
This is the same fact pattern as that above – Question 3 par…
This is the same fact pattern as that above – Question 3 part c Aubie transfers assets to Tiger Corporation in a transaction subject to Sec. 351. Assets Transferred: Inventory with FMV $40,000 and AB $50,000 Equipment with FMV $60,000 and AB $50,000 Investment with FMV $100,000 and AB $10,000 Total FMV $200,000 and AB of $110,000 In addition to stock, Aubie receives $60,000 cash. C. What amount of gain/loss does the Corporation recognize as a result of the transfer?
This is the same fact pattern as that above – Question 4 par…
This is the same fact pattern as that above – Question 4 part f Abbie and Scout incorporate Golden, Inc. by transferring assets in exchange for stock. Abbie transfers property A with AB of $50,000 and a FMV of $70,000 in exchange for 70% of the stock. Scout transfers property B with a FMV of $10,000 and an adjusted basis of $1,000 along with services in exchange for 30% of the stock. F. What amount of gain/loss does the Corporation recognize as a result of the transfer?
This is the same fact pattern as that above – Question 3 par…
This is the same fact pattern as that above – Question 3 part d Aubie transfers assets to Tiger Corporation in a transaction subject to Sec. 351. Assets Transferred: Inventory with FMV $40,000 and AB $50,000 Equipment with FMV $60,000 and AB $50,000 Investment with FMV $100,000 and AB $10,000 Total FMV $200,000 and AB of $110,000 In addition to stock, Aubie receives $60,000 cash. D. What is the Corporation’s adjusted basis in the assets it receives? Inventory = Equipment = Investment =
Functional retention:
Functional retention: