Carlos Transfers Property with a Tax Basis of $865 and a Fair

question 44

Multiple Choice

Carlos transfers property with a tax basis of $865 and a fair market value of $1,185 to a corporation in exchange for stock with a fair market value of $975 and $71 in cash in a transaction that qualifies for deferral under section 351. The corporation assumed a liability of $139 on the property transferred. What is the corporation's tax basis in the property received in the exchange?

• A) $1,185
• B) $904
• C) $936
• D) $797

Understand the developmental phases of adolescence and the impact on cognitive and moral reasoning.

Recognize the influence of parenting styles on academic achievement and personal development.

Identify the factors contributing to academic success among different racial and cultural groups.

Understand gender influences on occupational choices and educational pathways.

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Definitions:

Duration

The length of time that something lasts or continues.

Sign

An object, quality, or event whose presence or occurrence indicates the probable presence or occurrence of something else.

Sensory Qualities

Characteristics of objects detected and interpreted by the senses, including taste, smell, sound, touch, and sight.

Motivational Changes

Alterations in the direction, intensity, or persistence of an individual's motivation over time.