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Business, 01.03.2021 20:20 amazinga

Rachelle transfers property with a tax basis of $800 and a fair market value of $900 to a corporation in exchange for stock with a fair market value of $750 and $50 in cash in a transaction that qualifies for deferral under section 351. The corporation assumed a liability of $100 on the property transferred. What is the corporation's tax basis in the property received in the exchange?

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Rachelle transfers property with a tax basis of $800 and a fair market value of $900 to a corporatio...
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