John Transfers Assets with a $200,000 FMV (Basis $160,000)and $170,000

question 88

Multiple Choice

John transfers assets with a $200,000 FMV (basis $160,000) and $170,000 of liabilities to a corporation in exchange for 100% of the corporation's stock with a FMV of $130,000.The corporation assumes the $170,000 mortgage.The transfer qualifies under Sec.351.What is the corporation's basis in the property?

• A)$160,000
• B)$170,000
• C)$190,000
• D)$200,000

---

Definitions:

Psychoanalytic Perspective

The psychoanalytic perspective is a theory in psychology that emphasizes unconscious processes and childhood experiences in shaping behavior and personality.

Unresolved Conflicts

Disputes or disagreements that have not been settled or resolved, often leading to ongoing tension or stress.

Teacher

A person who helps others acquire knowledge, competences, or values, often in an educational setting.

Neo-Freudians

Psychologists who accepted the basic foundations of Freud's theory but modified and expanded upon it to include social and cultural aspects.