The basis of the stock you receive when you contribute capital to a Corporation is generally the
Fantastic news! We've Found the answer you've been seeking!
Question:
The basis of the stock you receive when you contribute capital to a Corporation is generally the adjusted basis of the property you transfer. Therefore, if you transfer land with a $60,000 basis and $75,000 fair market value to ABC Corp in exchange for 90% of ABC's stock. What is your Basis in your ABC corp stock?
Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
Posted Date: