The Transferee Corporation's Basis in Property Received in a Sec

question 117

Multiple Choice

The transferee corporation's basis in property received in a Sec. 351 exchange is

• A)the FMV of the property received.
• B)the transferee corporation's basis in the stock exchanged.
• C)the transferor's basis for the property plus gain recognized by the transferor.
• D)the transferor's basis for the property plus gain recognized by the transferee corporation.