How much gain does eve recognize as a result of the transfer

Reference no: EM13185077

Eve transfers property with an adjusted basis to her of $120,000 and fair market value of $400,000 to Green Corporation in exchange for 80% of its stock that has a fair market value of $350,000 and the corporation's long-term note worth $50,000 that is executed by the appropriate office on behalf of Green Corporation and made payable to Eve. How much gain does Eve recognize as a result of the transfer?

Reference no: EM13185077

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