Kellye and Becky formed Whoop! Shotz Corporation by contributing property with a fair market value of $50,000
Question:
Kellye and Becky formed Whoop! Shotz Corporation by contributing property with a fair market value of $50,000 and $70,000 cash, respectively, each for a 50% ownership in the newly formed company. What is Kellye’s taxable gain in this situation if the adjusted basis in the property is $25,000 and the company is valued at $120,000?
a. $0
b. $10,000
c. $25,000
d. $35,000
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Correct option is c 25000 Explanati...View the full answer
Answered By
Vivek Kumar
How I Work with Students:
I am well expert to teach Accounting and economics as i have immense knowledge and experience how to teach students in a efficient and technical manner. Most important part of my teaching is to provide students self written content. I also arrange test for them after wrapping each and every topics. I also provide set of questions to the students to prepare for examination, unit test, mock test etc.. I always ready to work with them by clearing their doubts so that they may get fully satisfied. Overall i always ready to accept all challenges which is put up by students as i am so passionate about my teaching.
Skills:
A professional Skilled at evaluating student abilities with academic goals to tailor lesson plans and programs accordingly. Flair for establishing rapport with students to engender trust and promote physical, social and emotional growth. I believe my enthusiasm for supporting all students, extensive education and specialized experience would make me an asset to this exciting State history education initiative.
Online Teaching a perfection:
Online teaching is a prominent way of teaching which gives an option to connect with the students anywhere in the world. I really enjoyed teaching online and many students got success in their career. It`s my pleasure to execute challenges from students who creates it and I accept it. I will be waiting to start work with you.
0 Reviews
10+ Question Solved
Related Book For 
South Western Federal Taxation 2018 Corporations Partnerships Estates And Trusts
ISBN: 1389
41st Edition
Authors: William H. Hoffman, William A. Raabe, James C. Young, Annette Nellen, David M. Maloney
Question Posted:
