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What is the corporation basis in the real estate

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Reference no: EM132702825

Problem - Tammy has a business which she decides to incorporate. She transfers to the new corporation, real estate with a basis of $75,000 and subject to a $34,000 mortgage in exchange for all of its stock. The stock is worth $125,000.

What is Tammy's realized gain?

What is Tammy's recognized gain?

What is Tammy's basis in her stock?

What is the corporation's basis in the real estate?

Reference no: EM132702825

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