krissyyyyyy35811 krissyyyyyy35811
  • 16-01-2023
  • Business
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amy transfers property with a tax basis of $900 and a fair market value of $600 to a corporation in exchange for stock with a fair market value of $450 in a transaction that qualifies for deferral under section 351. the corporation assumed a liability of $150 on the property transferred. what is amy's tax basis in the stock received in the exchange (assuming no relevant elections)?

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