Question: QUESTION 1 Eileen transfers property worth $ 2 0 0 , 0 0 0 ( basis of $ 1 7 0 , 0 0 0

QUESTION 1
Eileen transfers property worth $200,000(basis of $170,000) to Goldfinch Corporation. In return, she receives 90% of the stock in Goldfinch Corporation (fair market value of
$190,000) and $10,000. Eileen recognizes gain on the transfer of:
a. $0
b. $10,000
c. $20,000
d. $190,000
QUESTION 1 Eileen transfers property worth $200,000(basis of $170,000) to Goldfinch

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