Determine the basis of stock in the hands of the

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Reference no: EM13389457

Determine the basis of stock in the hands of the shareholder in each of the following instances. Assume that the 80% rule is met in all cases.

a. Contribution of property with a basis of $ 1,000 and a FMV of $ 1,400.

b. Contribution of property with a basis of $ 3,000 and a FMV of $ 3,800. The stockholder also received $ 500 cash from the corporation as part of the stock transaction.

c. Contribution of property with a basis of $ 8,200 and a FMV of $ 12,500. The stock-holder also received property with a FMV of $ 1,700 from the corporation as part of the stock transaction.

d. Contribution of a building with a FMV of $ 200,000, a mortgage ( assumed by the corporation) of $ 100,000, and a basis of $ 125,000.

e. Contribution of a building with a FMV of $ 1,700,000, a mortgage ( assumed by the corporation) of $ 1,000,000, and a basis of $ 635,000.

Reference no: EM13389457

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