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MCS,PHD
Argosy University/ Phoniex University/
Nov-2005 - Oct-2011
Professor
Phoniex University
Oct-2001 - Nov-2016
Determine the basis of stock in the hands of the shareholder in each of the following instances. Assume 80% rule is met in all cases. a. Contribution of property with a basis of $1,000 and a FMV of $1400 b. Contribution of property with a basis of $3,000 and a FMV of $3,800. The stockholder also received $500 cash from the corporation as part of the stock transaction. c. Contribution of property with a basis of $8200 and a FMV of 12,500. The stockholder also received property with a FMV of $1700 from the corporation as part of the stock transaction. d. Contribution of a building with a FMV of $200000, a mortgage (assumed by the corporation) of $100,000 and a basis of $125,000. e. Contribution of a building with a FMV of $1,700,000, a mortgages (assumed by the corporation) of $1,000,000 and a basis of $635,000.
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