Small Corporation owns assets with aFMV of $3 million and a basis of $2.1 million. Small??s liabilitiesequal

Small Corporation owns assets with aFMV of $3 million and a basis of $2.1 million. Smallâ??s liabilitiesequal $250,000. Small transfers assets with a FMV of $2.75 millionand a basis of $1.2 million 2 answers