Question: 3 Enabled: Module Four Quiz @ Saved Help Save&Exit TB MC Qu. 8-47 (Algo) Amy transfers property with a tax basis of... Amy transfers property

3 Enabled: Module Four Quiz @ Saved Help Save&Exit TB MC Qu. 8-47 (Algo) Amy transfers property with a tax basis of... Amy transfers property with a tax basis of $1,055 and a fair market value of $650 to a corporation in exchange for stock with a fair market value of $495 in a transaction that qualifies for deferral under section 351, The corporation assumed a liat{dity of $155 on the property transferred, What is Amy's tax basis In the stock received In the exchange? Multiple Choice $1,055 $900 $495 O O CO s200 OC

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