Question: Need help with this hw question i need to put this in an excel file or in paper to submit A. What is the gain/loss

Need help with this hw question i need to put this in an excel file or in paper to submit

A. What is the gain/loss realized for each independent scenario? B. What, if any, is the boot received for each independent scenario? C. What is the gain/loss recognized? D. What is the Corporations Basis in the Property Received? E. What is the basis in the stock? Property transferred has: Fair market value = $200,000 Basis $150,000 Realized Gain $ 50,000 Liabilities assumed by the corporation (independent facts): Business Business Purpose 1 Purpose 2 Liability: $130,000 $170,000 FMV of Stock Received: $120,000 $ 80,000 No Business Purpose $170,000 $ 80,000 A. What is the gain/loss realized for each independent scenario? B. What, if any, is the boot received for each independent scenario? C. What is the gain/loss recognized? D. What is the Corporations Basis in the Property Received? E. What is the basis in the stock? Property transferred has: Fair market value = $200,000 Basis $150,000 Realized Gain $ 50,000 Liabilities assumed by the corporation (independent facts): Business Business Purpose 1 Purpose 2 Liability: $130,000 $170,000 FMV of Stock Received: $120,000 $ 80,000 No Business Purpose $170,000 $ 80,000

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