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joja [24]
3 years ago
12

As part of a good Section 351 transaction Andy contributes his business with a basis of $200,000 in exchange for $300,000 worth

of stock and $50,000 of cash. What gain does Andy recognize?
Business
1 answer:
Brums [2.3K]3 years ago
5 0

Answer:

Gain = $150,000

Explanation:

Given:

Contribution = $200,000

Exchange stock = $300,000

Cash = $50,000

Find:

Gain

Computation:

Gain = Exchange stock + Cash - Contribution

Gain = $300,000 + $50,000 - $200,000

Gain = $150,000

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