Question: Suppose Charles contributed ( $ 5 0 , 0 0 0 ) in cash, and a building with a fair market value

Suppose Charles contributed \(\$ 50,000\) in cash, and a building with a fair market value of \$500,000 and an adjusted basis of \$400,000 to Anteater Inc (S Corp). Dennis contributed \$250,000 in cash, and Holly contributed \$300,000 in cash to Anteater Inc. Anteater Inc. also has \$90,000 worth of liabilities which Charles, Dennis, and Holly are equally responsible for. What is Charles's tax basis in Anteater Inc stock?
Question 7
Assume the same facts as in Question 6, but this time, Anteater Inc. is a partnership, not an S Corp.
What is Charles's outside basis?
Suppose Charles contributed \ ( \ $ 5 0 , 0 0 0 \

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