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Ray Of Light [21]
4 years ago
11

Roberta transfers property with a tax basis of $400 and a fair market value of $500 to a corporation in exchange for stock with

a fair market value of $350 in a transaction that qualifies for deferral under section 351. The corporation assumed a liability of $150 on the property transferred. What is the amount realized by Roberta in the exchange?
(A) $500
(B) $400
(C) $350
(D) $250
Business
1 answer:
trapecia [35]4 years ago
7 0

Answer: the correct answer is A. $500

Explanation:

Amount realized is the amount received from the sale of an asset. The money received for Roberta is $500.

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