Roberta transfers property with a tax basis of $457 and a fair market value of...
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Accounting
Roberta transfers property with a tax basis of $457 and a fair market value of $556 to a corporation in exchange for stock with a fair market value of $419 in a transaction that qualifies for deferral under section 351. The corporation assumed a liability of $137 on the property transferred. What is the amount realized by Roberta in the exchange? Multiple Choice $556 $457 $419 $278
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