Roberta transfers property with a tax basis of $460 and a fair market value of $539 to a corporation in exchange for stock with

Question

3 years ago

7

Roberta transfers property with a tax basis of $460 and a fair market value of $539 to a corporation in exchange for stock with

a fair market value of $396 in a transaction that qualifies for deferral under section 351. The corporation assumed a liability of $143 on the property transferred. What is the amount realized by Roberta in the exchange?

Business

1 answer:

mamaluj [8] · Answer 1 · 2022-03-10T07:00:13+03:00

Answer:

$539

Explanation:

Based on the information given we were told that he transfer property which had a fair market value of the amount of $539 to a corporation in exchange for stock which means that the amount that will be realized in the exchange for the stock will be the amount of $539.

Therefore the amount realized by Roberta in the exchange will be $539