Solution-What is Deb gain or loss on the transfer

What is Deb gain or loss on the transfer

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Question - Deb organized Beauty Shots, Inc and transferred a building with a basis of $100,000 and fair market value of $400,000. Deb owns 100% of the stock.

The building was subject to a mortgage of $80,000 which was incurred two years ago. What is Deb's gain/loss on the transfer? What is Deb's basis in the stock? What is Beauty Shots basis in the building?

Reference no: EM132478878

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What is Deb gain or loss on the transfer

Reference no: EM132478878

Reference no: EM132478878

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