Business, 30.12.2019 23:31 ytalbot

Tristan transfers property with a tax basis of $900 and a fair market value of $1,200 to a corporation in exchange for stock with a fair market value of $900 and $200 in a transaction that qualifies for deferral under section 351. the corporation assumed a liability of $100 on the property transferred. what is the corporation's tax basis in the property received in the exchange?

a. $1,200

b. $1,100

c. $1,000

d. $900

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Tristan transfers property with a tax basis of $900 and a fair market value of $1,200 to a corporati...

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