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What is the amount realized by camille in the exchange

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Problem 1: Camille transfers property with a tax basis of $845 and a fair market value of $1,270 to a corporation in exchange for stock with a fair market value of $950 and $320 in cash in a transaction that qualifies for deferral under section 351. Camille also incurred selling expenses of $156. What is the amount realized by Camille in the exchange?

Option 1: $1,270
Option 2: Incorrect
Option 3: $794
Option 4: $1,114
Option 5: $950

Reference no: EM132990500

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