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How do you think the shareholder should determine

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Question - A shareholder receives stock valued at $500,000 and $50,000 cash for two pieces of equipment as part of a Section 351 transaction. He transfers (1) Machine A with a fair market value of $330,000 and a basis of $300,000 and (2) Machine B with a fair market value of $220,000 and a basis of $250,000. How do you think the shareholder should determine if he should recognize any gain on the transfer of the equipment? Comment on the result.

Reference no: EM132545467

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