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At the beginning of the year, Harold, Missy, and Ranae formed HMR Corporation as an S corporation. For one-third of the HMR stock, Harold contributed $50,000 cash and land with a fair market value of $75,000 and adjusted tax basis of $60,000. The land was subject to a $45,000 mortgage, which was assumed by HMR on the formation. Missy and Ranae each contributed $80,000 cash to HMR for one-third of the HMR stock. What is Harold's basis in the HMR stock after the formation? What is Missy's basis in her HMR stock after the formation?
High Control
A management style or situation characterized by strict rules and a high degree of oversight and direction.
Low Control
Situations or environments where there is minimal regulation, guidance, or command, often leading to high autonomy but potentially high uncertainty as well.
Situations
The set of circumstances or contexts in which events occur, often influencing outcomes and decisions.
Leader Behavior
Pertains to the actions, decisions, and mannerisms exhibited by an individual in a leadership position, which impact team dynamics and organizational outcomes.
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