8. Individual M transfers land worth $100,000 (with a basis of $40,000, acquired 5 years ago...

 

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8. Individual M transfers land worth $100,000 (with a basis of $40,000, acquired 5 years ago as an investment)) to a corporation in exchange for 70% of its stock which is worth $80,000. The corporation also transfers to M bonds worth $20,000. a) What is M's gain realized on the transfer b) What if anything is M's gain recognized on the transfer c) What is M's basis in the stock d) What is M's holding period in the stock ? ? ? ? 8. Individual M transfers land worth $100,000 (with a basis of $40,000, acquired 5 years ago as an investment)) to a corporation in exchange for 70% of its stock which is worth $80,000. The corporation also transfers to M bonds worth $20,000. a) What is M's gain realized on the transfer b) What if anything is M's gain recognized on the transfer c) What is M's basis in the stock d) What is M's holding period in the stock ? ? ? ?