Arleta transfers property valued at $210,000 (basis = $190,000) to BCD Corporation in exchange for 70 percent

Question:

Arleta transfers property valued at $210,000 (basis = $190,000) to BCD in exchange for 70 percent of its stock. Georgia transfers property valued at $85,000 (basis = $75,000) and performs $5,000 in accounting services in exchange for the other 30 percent of BCD's stock.
a. What are Arleta and Georgia's gains/income or losses realized?
b. What are Arleta and Georgia's gains/income or losses recognized?
c. What are their bases in BCD's stock?
d. What is BCD's basis in the property received?
Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may...