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Katen [24]
2 years ago
7

Tristan transfers property with a tax basis of $1,255 and a fair market value of $1,570 to a corporation in exchange for stock w

ith a fair market value of $1,255 and $276 in cash in a transaction that qualifies for deferral under section 351. The corporation assumed a liability of $39 on the property transferred. What is the corporation's tax basis in the property received in the exchange
Business
1 answer:
AlladinOne [14]2 years ago
4 0

Answer: $1531

Explanation:

The corporation's tax basis in the property received in the exchange will be the addition of Tristan's Tax basis and the gain that's recognized on exchange by Tristan.

The gain realized will be:

= $1,570 - $1,255

= $315

Boot received = $276

Therefore, lower of $315 or $276 is $276.

The corporation's tax basis in the property received will then be:

= $1255 + $276

= $1531

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Answer:

The true statement is " The spread is from 1 to 6."

Explanation:

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Now consider the options.

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Now find the center of the data by calculation the median of the data.

There are 16 dots in total which is an even number.

So, now we will find the average of the two middle values.

This will be the 8th and 9th value average for the given data set of 16 values.

Count from left to right the 8th and 9th values are both 4.

\text{Median}=\frac{4+4}{2}

\text{Median}=4

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The second statement is false.

The peak of the data is at 6.

The third statement is false.

The spread is from 1 to 6 as we can see in the figure shown below.

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Answer:

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