Travis transfers land with a fair market value of $125,000 and basis of $25,000, to a corporation

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Travis transfers land with a fair market value of $125,000 and basis of $25,000, to a corporation in exchange for 100 percent of the corporation’s stock. What amount of gain must Travis recognize as a result of this transaction?

a. $0
b. $25,000
c. $100,000
d. $125,000
e. None of the above

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Income Tax Fundamentals 2017

ISBN: 9781305872738

35th Edition

Authors: Gerald E. Whittenburg, Steven Gill, Martha Altus Buller

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Question Posted: Aug 29, 2023 08:53 AM

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Travis transfers land with a fair market value of $125,000 and basis of $25,000, to a corporation

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Income Tax Fundamentals 2017

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