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Determine the basis of stock in the hands of the shareholder

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Question - 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 FMV of $1,400

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

c. contribution of property with a basis of $8200 and FMV of $12500. The shareholders also received property with a FMV of $1700 from the corporation as part of the stock transaction.

d. contribution of 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 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: EM131774296

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