What are the tax consequences to sophia

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Reference no: EM131831091

Sophia forms Giant corporation by contributing equipment, which has a basis of $50,000 and an FMV of $80,000 in exchange for Giant stock. Sophia also contributes $5,000 in cash. If the transaction meets the Sec. 351 control and ownership tests, what are the tax consequences to Sophia?

Reference no: EM131831091

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What are the tax consequences to sophia : Sophia forms Giant corporation by contributing equipment, what are the tax consequences to Sophia?

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