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What is brian basis in the orange corporation stock

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Brian contributed a building with a basis of $200,000 and a FMV of $400,000 in a Section 351 transaction in exchange for Orange Corporation stock. The building was subject to a $100,000 mortgage that was assumed by Orange Corporation.

Problem 1: What is Brian's basis in the Orange Corporation stock?

Option 1: $300,000
Option 2: $100,000
Option 3: $200,000
Option 4: $400,000

Reference no: EM132842391

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