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Business, 06.05.2020 04:39 savannah647

Determine the basis of stock in the hands of the shareholder in each of the following instances. Assume that the 80% rule is met in all cases. Required: Contribution of property with a basis of $1,000 and an FMV of $1,400. Contribution of property with a basis of $3,000 and an FMV of $3,800. The stockholder also received $500 cash from the corporation as part of the stock transaction. Contribution of property with a basis of $8,200 and an FMV of $12,500. The stockholder also received property with an FMV of $1,700 from the corporation as part of the stock transaction. Contribution of a building with an FMV of $200,000, a mortgage (assumed by the corporation) of $100,000, and a basis of $125,000. Contribution of a building with an FMV of $1,700,000, a mortgage (assumed by the corporation) of $1,000,000, and a basis of $635,000.

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