Solution-What are the tax consequences to Ann, Bob, and

What are the tax consequences to Ann, Bob, and Robin

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Problem - Ann and Bob form Robin Corporation. Ann transfers property worth $420,000 (basis of $150,000) for 70 shares in Robin Corporation. Bob receives 30 shares for property worth $165,000 (basis of $30,000) and for legal services (worth $15,000) in organizing the corporation. Assume that the property Bob transfers to Robin Corporation is worth $15,000 (basis of $3,000) and that his services in organizing the corporation are worth $165,000. What are the tax consequences to Ann, Bob, and Robin Corporation?

Reference no: EM132645524

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What are the tax consequences to Ann, Bob, and Robin : Ann transfers property worth $420,000 (basis of $150,000) for 70 shares in Robin Corporation. What are the tax consequences to Ann, Bob, and Robin

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What are the tax consequences to Ann, Bob, and Robin

Reference no: EM132645524

Reference no: EM132645524

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