Trolette Contributes Property with an Adjusted Basis of $80,000 and a Fair

question 134

Multiple Choice

Trolette contributes property with an adjusted basis of $80,000 and a fair market value of $100,000 to a newly formed business entity.If the entity is a C corporation and the transaction qualifies under § 351,the corporation's basis for the property and the shareholder's basis for the stock are: Asset Basis Stock Basis

• A)$ 80,000 $100,000
• B)$100,000 $ 80,000
• C)$ 80,000 $ 80,000
• D)$100,000 $100,000
• E)None of the above.

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