Inez Transfers Property with a Tax Basis of $200 and a Fair

question 104

Multiple Choice

Inez transfers property with a tax basis of $200 and a fair market value of $300 to a corporation in exchange for stock with a fair market value of $250 in a transaction that qualifies for deferral under section 351.The corporation assumed a liability of $50 on the property transferred.What is the corporation's tax basis in the property received in the exchange?

• A)$150.
• B)$200.
• C)$250.
• D)$300.

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Definitions:

Informants

Individuals who provide key information or insights, often as part of a research study, investigation, or for journalistic purposes.

Self-report Data

Self-report data is information provided by individuals about themselves, often used in psychological research through questionnaires or interviews.

Personality Assessment

The process of evaluating an individual's character traits and behaviors, often using tests or questionnaires.

B Data

Behavioral data, or direct observations of another’s behavior that are translated directly or nearly directly into numerical form. B data can be gathered in natural or contrived (experimental) settings.