C's basis would be $23,000 with the same information regarding the brought over holding period and no taxable gain or loss. X Corporation's basis would be $8,000 for property 2 and $15,000 - the net $3,000 loss for $12,000 for property 1 total of $20,000 for the same reasons above and the same brought over holding period with no taxable gain or loss. what tax codes apply