37) Eight years ago, Daniel bought some qualified small business stock for $2,000,000. In the current year, he sells that stock for $13,000,000. How much and what kind of gain or loss does he have? How would your answer change if Daniel sold the stock for $25,000,000?
Chapter 8 (p.361)
37) Wilbur transfers property valued at $100,000 (basis = $70,000) to the Debold Corporation in exchange for 100 percent of its stock.
a) What is Wilbur’s realized gain or loss on the transfer and his recognized gain or loss?
b) What is his basis in the stock received?
c) What is the corporation’s basis in the property transferred?
====================================================
http://www.youtube.com/watch?v=JdNMR_hb2bg
No comments:
Post a Comment