sam transfers assets to tiger corporation, subject to sec 351 inventory fmv 40000 and AB 50000...

sam transfers assets to tiger corporation, subject to sec 351

inventory fmv 40000 and AB 50000

equipment fmv 60000 and AB 50000

investment with Fmv 100000 and AB 10000

total fmv 200000, Ab 110000

in addition to stock sam receives 60000 cash

what is the gain/loss sam tecognized?

what is the gain/loss does the corp. recognized

Expert Solution

ekkarill92 answered 2 years ago

To qualify for Sec. 351, a sole proprietor must be in control of the receiving corporation...

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3. Jack and Carter formed Sheriff Inc., a C-Corporation. Jack transfers land (FMV $450,000 and adjusted...

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Tom incorporates his sole proprietorship as Total Corporation and transfers its assets to Total in exchange...

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