Determine the basis of the property contributed in the hands of the corporation in each...
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Accounting
Determine the basis of the property contributed in the hands of the corporation in each instance. Assume that the 80% rule is metin all cases. Requitred: a. Contribution of property with a bas 15 of $2,100 and an FMV of $2,500 b. Contribution of property with a basis of $5,200 and an FMV of $6,000. The stockholder also recelved $555 cash from the comoration as part of the stock transaction. c. Contribution of property with a bas 15 of $9,300 and an FMV of $14,700. The stockholder also recelved property with an FWV of $2,800 from the corporation as part of the stock transaction. d. Contribution of a bulding with an FMV of $255,000, a morigage (assumed by the corporation) of $155.000, and a basis of $235,000. e. Contribution of a buliding with an FMV of $1,810,000, a mortgage (assumed by the corporation) of $1,110,000, and a basis of $690,000
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