Camille Transfers Property with a Tax Basis of $800 and a Fair

question 111

Multiple Choice

Camille transfers property with a tax basis of $800 and a fair market value of $1,200 to a corporation in exchange for stock with a fair market value of $850 and $350 in cash in a transaction that qualifies for deferral under section 351. Camille also incurred selling expenses of $100. What is the amount realized by Camille in the exchange?

• A)$1,200
• B)$1,100
• C)$850
• D)$750

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Definitions:

Hochschild

Arlie Russell Hochschild is a renowned American sociologist best known for her work on emotion labor and gender roles within the family and workplace.

Interviews

A method of qualitative research involving direct, structured, or semi-structured conversation between a researcher and a respondent for the purpose of obtaining information.

Attitudes

Psychological tendencies expressed by evaluating a particular entity with some degree of favor or disfavor.

Beliefs

Convictions or acceptances that something exists or is true, especially without proof, forming the basis of faiths or customs.