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In 2006,Gita Contributed Property with a Basis of $500,000 and a Fair

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In 2006,Gita contributed property with a basis of $500,000 and a fair market value of $3,000,000 to a qualified small business corporation for all of its common stock.She sells the stock in 2013 for $4,000,000.What is the amount of taxable gain on the transaction?


Definitions:

Negative View

An attitude or perspective that emphasizes the bad or undesirable aspects of something.

Stereotypes

Commonly accepted yet inflexible and simplistic perceptions or notions about a specific kind of individual or object.

Negative

Characterized by the absence rather than the presence of distinguishing qualities, or expressing denial, refusal, or prohibition.

Salience

Being obvious or standing out.

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