1-A. Antoine transfers property with a tax basis of $560 and a fair market value of $692 to a corporation in exchange for stock with a fair market value of $642 in a transaction that qualifies for deferral under section 351. The corporation assumed a liability of $50 on the property transferred. What is Antoine's tax basis in the stock received in the exchange?

Multiple Choice

• $692
• $642
• $560
• $510

1-B. Camille transfers property with a tax basis of $795 and a fair market value of $1,275 to a corporation in exchange for stock with a fair market value of $965 and $310 in cash in a transaction that qualifies for deferral under section 351. Camille also incurred selling expenses of $123. What is the amount realized by Camille in the exchange?

Multiple Choice

• $1,275
• $1,152
• $965
• $842

1-C. Casey transfers property with a tax basis of $2,760 and a fair market value of $5,100 to a corporation in exchange for stock with a fair market value of $3,800 and $440 in cash in a transaction that qualifies for deferral under section 351. The corporation assumed a liability of $860 on the property transferred. Casey also incurred selling expenses of $524. What is the amount realized by Casey in the exchange?

Multiple Choice

• $5,100
• $4,576
• $4,476
• $4,036

1-D. Rachelle transfers property with a tax basis of $835 and a fair market value of $1,125 to a corporation in exchange for stock with a fair market value of $740 and $178 in cash in a transaction that qualifies for deferral under section 351. The corporation assumed a liability of $207 on the property transferred. What is the corporation's tax basis in the property received in the exchange?

Multiple Choice

• $1,125
• $1,013
• $835
• $740