Taxpayer puts in $2,000,000 of assets (FMV) into a corporation in exchange for another asset. His basis is $600,000. He also gets $700,000 in cash (plus the stock) If this transaction is deferred calculate the following:

Realized gain/ loss:

Recognized gain/ loss:

Basis in new asset to the shareholder:

Answer rating: 100% (QA)

To calculate the realized gain or loss we need to determine the ... View the full answer