Individuals Opal and Ben Form OB Corporation

question 94

Multiple Choice

Individuals Opal and Ben form OB Corporation.Opal transfers land and a building with a $550,000 adjusted basis and a $625,000 FMV in exchange for 50% of the stock of the OB Corporation worth $610,000 and a $15,000 note.Ben transfers cash of $625,000 for 50% of the stock worth $610,000 and a note of the OB Corporation valued at $15,000.Opal's basis in the stock received is

• A)$550,000.
• B)$560,000.
• C)$610,000.
• D)$625,000.

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Definitions:

Thalamus

A brain structure that acts as a relay station, channeling sensory and motor signals to the cerebral cortex.

Cerebellum

A part of the brain located at the back of the skull, crucial for coordination, precision, and timing of movements.

Meningitis

An inflammation of the protective membranes covering the brain and spinal cord, known collectively as the meninges.

Cerebrospinal Fluid

A clear, colorless body fluid found in the brain and spine, providing cushioning for the brain, removing waste, and carrying nutrients.