Business, 10.09.2021 01:00 salmanderabdi12
Yvonne and Simon form Ion Corporation. Yvonne transfers equipment (basis of $436,400 and fair market value of $654,600). Simon invests $523,680 of cash. They each receive 100 shares in Ion Corporation, worth $523,680, but Yvonne also receives $130,920 in cash from Ion. Calculate Ion Corporation's basis in the equipment and determine Yvonne and Simon's basis in the Ion stock. Ion Corporation has a basis of $fill in the blank 1 in the equipment. Yvonne has a basis of $fill in the blank 2 for her stock and Simon has a basis of $fill in the blank 3 for his stock.
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Yvonne and Simon form Ion Corporation. Yvonne transfers equipment (basis of $436,400 and fair market...
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