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:

Global Retail

The selling of goods and services across international borders, through either physical stores or digital platforms, to consumers in different countries.

Independent Retailers

Retail outlets owned and operated by individuals or groups, not part of a larger chain or brand, often offering unique products or personalized services.

Retailer Cooperatives

An organization of independent retailers who collaborate to improve purchasing power and marketing efficiency through collective operations.

Corporate Chains

Two or more retail outlets that are commonly owned and controlled.