Tristan transfers property with a tax basis of $900 and a fair market value of $1,200 to a corporation in exchange for stock with a fair market value of $900 and $200 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?
a. $1,200
b. $1,100
c. $1,000
d. $900
Answers: 1
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Tristan transfers property with a tax basis of $900 and a fair market value of $1,200 to a corporati...
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