Sam owns 100% of m corporation’s single class of stock. sam transfers land and a building having a $30,000 and $100,000 adjusted basis, respectively, to m corporation in exchange for additional m corporation common stock worth $200,000 and ibm stock worth $20,000. the ibm stock had a $5,000 basis on m corporation’s books. peter transfers $50,000 in cash for 15% of the m corporation common stock. what amount of gain or loss is recognized by sam and m corporation on the exchange? sam has come to you for advice so provide him with professional memo on the isssue, based on the irc, treasury regulations, ruling and court cases if applicable. do not use irs publication or other unreliable sources. use proper tax language and irac form - issues,. rules, analysis conclusion..

1. list five staple convenience goods that you or your household buys on a regular basis. (you do not need to use complete sentences. 2.5 points) 2. list three impulse convenience goods that you or someone you know has purchased. (you do not need to use complete sentences. 2.5 points) 3. describe a shopping good that you or someone you know purchased. what kind of research did you or that person do before buying the product? (1-5 sentences. 3.0 points) 4. choose an example of a company you could start, and decide which business structure would make the most sense for that type of company (sole proprietorship, partnership, llc, c corporation, s corporation, or nonprofit corporation). explain why this structure would be good for this type of company. give at least 3 reasons. (3-6 sentences. 6.0 points) 5. if you were starting a new business, describe at least three departments to the company that you would need right away. why are these departments so important? (1-5 sentences. 3.0 points) 6. describe a product that you think has saturated its market. what makes you think it has saturated its market? (1-5 sentences. 3.0 points)