1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
lesantik [10]
3 years ago
5

Inez transfers property with a tax basis of $200 and a fair market value of $300 to a corporation in exchange for stock with a f

air market value of $250 in a transaction that qualifies for deferral under §351. The corporation assumed a liability of $50 on the property transferred. What is the corporation's tax basis in the property received in the exchange?
Business
1 answer:
Mila [183]3 years ago
5 0

Answer:

$200

Explanation:

The adjusted basis is the value given to an asset (and used by the IRS) when you have to determine any capital gain or loss resulting from its sale. It should generally be the original cost of purchasing that asset.

§351 allows corporations to defer taxes from capital gains (or losses) resulting from the transfer of property in exchange for stocks.

Corporation's tax basis = $200

You might be interested in
The Marshall Company has a process costing system. All materials are added when the process is first begun. At the beginning of
Korolek [52]

Answer:

D. 50,000

Explanation:

Units started and completed=50000-5000=45000

Ending work in process= 5000

Equivalent units of material= 50000

3 0
3 years ago
"how would the distribution of income change if social security were privatized?"
Vanyuwa [196]
To make Social Security to private it would imply that it is never again an ensured framework that Americans can rely upon. Rather, it would be more similar to a benefits program, and many annuity programs have finished on the grounds that privately owned businesses have discovered them too expensive. It isn't justified regardless of the danger of such a vital program finishing or being scaled back. Individuals are extremely not going to put something aside for there retirement money..that why we have this program so when we resign we can securely realize that we have cash.
4 0
3 years ago
Which type of financial statement should you look at if you want to see a company's profits and losses over a specific period of
Tju [1.3M]
I believe the answer is D
4 0
3 years ago
Read 2 more answers
What is the primary task of the Federal Reserve​
Murrr4er [49]

Answer:

The responsibilities of the Federal Reserve include influencing the supply of money and credit; regulating and supervising financial institutions; serving as a banking and fiscal agent for the United States government; and supplying payments services to the public through depository institutions like banks.

7 0
3 years ago
Read 2 more answers
" what demographic and psychographic changes are creating business opportunities for new ventures
kkurt [141]
A major one is the increase in globalization.

now a days people can talk to anyone in any part of the world at any time they want for free and within an instant of when they think of it. Bills and payments can be made from the tap of a button. Someone can stay in their house there entire life and have everything they ever needed. this is being translated to the business world in massive ways.
4 0
3 years ago
Other questions:
  • Sonja is a barista. Her manager has been hearing reports that Sonja's lattes taste like the milk is burned. Her manager talks to
    14·1 answer
  • One way of controlling "nuisance" variables is to match the various groups by picking the confounding characteristics and delibe
    14·1 answer
  • Who gains and who loses when a country imposes a tariff or a quota on imports of a​ good? Suppose the United States imposes a
    13·1 answer
  • When Maricela looked in her closet and said, "I don't have anything to wear to the party this weekend," she seems to be in which
    6·1 answer
  • Question 2
    7·1 answer
  • The LIFO inventory cost flow assumes that the cost of the newest goods purchased are: A. assumed to be the first ones sold. B. a
    15·1 answer
  • How will the depreciation of the Japanese Yen vis-à-vis the USD impact FDI from U.S. into Japan?
    12·1 answer
  • Far Side Corporation is expected to pay the
    14·1 answer
  • An advantage of organization in the u.s. that compete globally is
    12·1 answer
  • If you want to compare your qualifications to an employers requirements, a t-letter is the best cover letter format to use. plea
    5·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!