Inventory Building Land Total FMV $ 20,000 Tax Basis $ 10,000 130,000 75,000 100,000 40,000 $125,000...

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Inventory Building Land Total FMV $ 20,000 Tax Basis $ 10,000 130,000 75,000 100,000 40,000 $125,000 $250,000 The corporation assumed a mortgage in the amount of $60,000 in the transaction. (a) What amount of gain or loss does Julia realize on the transfer of the property to the corporation? (b) What amount of gain or loss does Julia recognize on the transfer of the property to the corporation? (c) What is Julia's basis in the stock she receives in the transaction? (d) What is the corporation's basis in the assets it receives in the transaction? (e) How would your answer change if the FMV of the Building was $125,000 and FMV of the Land was $180,000 and the mort For the toolbar, press ALT+F10 (PC) or ALT+FN+F10 (Mac). BI US Paragraph x >__ < +] Arial ABC S 10pt 99 E H A X B |P A 15 Inventory Building Land Total FMV $ 20,000 Tax Basis $ 10,000 130,000 75,000 100,000 40,000 $125,000 $250,000 The corporation assumed a mortgage in the amount of $60,000 in the transaction. (a) What amount of gain or loss does Julia realize on the transfer of the property to the corporation? (b) What amount of gain or loss does Julia recognize on the transfer of the property to the corporation? (c) What is Julia's basis in the stock she receives in the transaction? (d) What is the corporation's basis in the assets it receives in the transaction? (e) How would your answer change if the FMV of the Building was $125,000 and FMV of the Land was $180,000 and the mort For the toolbar, press ALT+F10 (PC) or ALT+FN+F10 (Mac). BI US Paragraph x >__ < +] Arial ABC S 10pt 99 E H A X B |P A 15