Zhang incorporated her sole proprietorship by transferring inventory, a building, and land to the corporation in return for 100 percent of the corporation’s stock. the property transferred to the corporation had the following fair market values and tax bases: tax fmv basis inventory $ 20,000 $ 10,000 building 150,000 100,000 land 230,000 70,000 total $ 400,000 $ 180,000 the corporation also assumed a mortgage of $200,000 attached to the building and land. the fair market value of the corporation’s stock received in the exchange was $220,000. the exchange met the requirements to be tax-deferred under §351. (negative amounts should be indicated by a minus sign. leave no answer blank. enter zero if applicable.) problem 13-46 part a a. what amount of gain or loss does zhang recognize on the transfer of the property to her corporation?